The people firms hire to attempt to convince state legislators and members of Congress to pass laws that are favorable to the economic interests of the firms are called

Explain how a single-price monopoly determines its output and price. Compare this process to how a perfectly competitive firm determines its output and price

What will be an ideal response?

U.S. import spending is not affected by U.S. real income but is influenced by the economic activity of its major trading partners and the exchange rate, hence import spending is taken as autonomous

Indicate whether the statement is true or false