A non-discriminating monopolist maximizes total revenue when its marginal revenue is
A. equal to price.
B. negative.
C. zero.
D. positive.
Answer: C
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Wars, new inventions, harvest failures, and changes in government policy are examples of
A) the business cycle. B) economic models. C) shocks. D) opportunity costs.
Current account transactions are payments and gifts that are related to the purchase or sale of
A) financial instruments only. B) both goods and services. C) goods only. D) services only.
A fixed exchange rate system encourages speculators to attack weaker currencies
a. True b. False Indicate whether the statement is true or false