Which of the following is true?
a. The price charged by a monopolistically competitive firm is equal to that charged by a perfectly competitive firm.
b. The price charged by a monopolistically competitive firm is less than that charged by a perfectly competitive firm.
c. The output produced by a monopolistically competitive firm is more than that produced by a perfectly competitive firm.
d. The output produced by a monopolistically competitive firm is equal to that produced by a perfectly competitive firm.
b
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Financial crises seldom involve economic downturns
a. True b. False Indicate whether the statement is true or false
Refer to the figure below. 
In the figure, which interval represents a business cycle expansion?
A. A to B B. B to D C. B to C D. A to C
To make things simpler and focus attention on what really matters, economists
A) use assumptions. B) respond to incentives. C) think at the margin. D) ignore all variables.
According to your authors, the "Great Recession" that began in 2008 is evidence of
A) an unstable free market system. B) rampant greed among entrepreneurs. C) a cluster or accumulation of errors. D) antagonistic interests among the propertied and nonpropertied classes. E) all of the above.