According to the Taylor Principle, when the inflation rate rises, the nominal interest rate should be ________ by ________ than the inflation rate increase

The Sherman Act of 1890 and the Clayton Act of 1914 were Antitrust Acts whose purposes included all of the following except

(a) The maintenance of a competitive economy (b) The prevention of monopolies, combinations and other conspiracies in restraint of trade (c) The prevention of price discrimination that reduces competition (d) The prevention of labor union activity that reduces competition in the labor market

Monopolistic competition is characterized by

A) relative ease of entry into the market. B) a standard, undifferentiated product. C) persistent long-run economic profits. D) a horizontal demand curve faced by all firms.