The demand curve faced by a pure monopolist
A) is the same as its marginal revenue curve.
B) is perfectly inelastic.
C) lies below the marginal revenue curve.
D) is the market demand curve.
D
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The aggregate supply curve is horizontal in the intermediate range
a. True b. False Indicate whether the statement is true or false
According to the Monetarist view, the impact of expansionary monetary policy will be:
a. the same in the long run as in the short run. b. the same regardless of whether the effects of the policy are anticipated or unanticipated. c. a higher price level (inflation). d. a decrease in short-run prices and an increase in long-run prices.
Suppose aggregate demand is too high to bring about the Natural Real GDP level. A Keynesian policy prescription would call for a(n) _____________________ to close this inflationary gap
A) increase in government spending B) decrease in government spending C) increase in taxes D) decrease in taxes E) b or c
The world's largest exporter is
A. the United States. B. Japan. C. Germany. D. China.