A monopolist faces a horizontal demand schedule
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
A firm will shut down in the short-run if
a. P>AVC
b. P
Structural unemployment arises when
a. marginal productivity of labor becomes zero. b. there is a cyclical change in the economy. c. jobs are eliminated by changes in the economy. d. people change their jobs.
Which of the following would tend to increase the value of a future stream of income?
a. an increase in the rate of inflation b. an increase in the interest rate c. a reduction in the interest rate d. a reduction in the size of the expected future income