The long-run equilibrium position of the monopolistic ally competitive firm occurs at a point where average costs are:
A. Constant
B. Increasing
C. Decreasing
D. At their minimum point
C. Decreasing
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With international trade, a country will export tires. Prior to international trade, the quantity of tires produced in the country ________ the quantity of tires consumed in the country
A) must be more than B) must be less than C) might be more than, less than, or equal to D) must equal
An export subsidy differs from a tariff in each of the following ways EXCEPT
A) a tariff generates revenue. B) a tariff is applied to imports. C) a tariff results in an efficiency loss. D) a tariff is a tax. E) a tariff discourages imports.
If the government wants to close a GDP gap, it should:
a. borrow funds from the public by issuing bonds. b. lower taxes and raise government spending. c. lower government spending on social security. d. raise both direct and indirect tax rates. e. adopt contractionary fiscal policies to control inflation.
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. After firms can respond to the payroll tax, employment will have
A. decreased by 100. B. decreased by 200. C. increased by 50. D. increased by 150.