Author Question: If this year's price level exceeds last year's A) the inflation rate between these years has been ... (Read 220 times)

cool · **on:** Jun 29, 2018

If this year's price level exceeds last year's

A) the inflation rate between these years has been positive.
B) the inflation rate is accelerating.
C) deflation is occurring.
D) no relative price changes are occurring.

Question 2

Perfect competition exists in a market if

A) there are many firms producing an identical product.
B) there are many firms producing a similar product, each of which may have unique features.
C) the firm is protected by a barrier to entry.
D) the firm is always at the break-even point where it is earning only a normal profit.