If the price level increases by 2 percent each year, the inflation rate is increasing.

If the price level increases by 2 percent each year, the inflation rate is increasing.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 2

A retailer cannot sell Campbell Soup if it also sells other brands of soup. This is an example of:
a. resale price maintenance.
b. price discrimination.
c. a tying agreement.
d. exclusive dealing.

QUESTION 3

Between 1990 and 2000 . expenditures by the federal government on defense as a proportion of total federal spending increased.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 4

A sustained decrease in an economy's price level is known as deflation.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 5

Price discrimination that tends to lessen competition is outlawed by the:
a. Sherman Antitrust Act.
b. Clayton Act.
c. Federal Trade Commission Act.
d. Interstate Commerce Act.

QUESTION 6

When there are large federal budget deficits, the trade deficit tends to shrink.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 7

Inflation is defined as a sustained increase in an economy's price level.
a. True
b. False
Indicate whether the statement is true or false

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If the price level increases by 2 percent each year, the inflation rate is increasing.

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