Game Emporium offers lower prices to children than to adults. This is an example of:
a. the inefficiency of monopoly.
b. perfect competition

In recent decades, the United States

A) was essentially a closed economy. B) was generally a net borrower of foreign funds. C) was generally a net lender abroad. D) experienced a net outflow of savings.

As actual output falls below the potential level in the short run, which of the following is most likely to occur? a. More resources will become unemployed. b. The price level will increase

c. Real GDP will increase. d. Nominal GDP will remain constant. e. The natural rate of unemployment will fall.