Perfectly competitive firms are sometimes called price makers because they have significant control over product price
a. True
b. False
B
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If Caterpillar Inc raises the price of earth-moving equipment that it manufactures in Illinois, then the CPI will ________ and the GDP deflator will ________
A) increase; increase B) increase; increase by less than the CPI C) increase; not change D) not change; not change E) not change; increase
Which of the following statements about the 2000 average wages of blacks and Hispanics compared to whites is most accurate?
a. African Americans earn about the same was whites but Hispanics earn about 70% of what whites earn. b. African Americans earn about 70% of what whites earn, while Hispanics earn about 75% of what whites earn. c. Hispanics earn about the same was whites but African Americans earn about 70% of what whites earn. d. African Americans and Hispanics earn less than half of what whites earn.