The total amount the federal government has borrowed to make expenditures that exceed tax revenue is called

Under conditions of oligopoly markets, firms generally don't like to compete based on price. Why? a. Because no producer has a cost advantage in doing so

b. Because consumers rarely spend time making price comparisons between different brands. c. Because competing on the basis of price can set off a price war among competitors and significantly reduce profits to the firm. d. Because price competition is illegal in most states.

Economics studies the logic of choices made from among available possibilities

a. True b. False Indicate whether the statement is true or false