The ________ elastic a firm's demand curve, the greater its ________
A) less; monopoly power
B) less; output
C) more; monopoly power
D) more; costs
A
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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
Marginal benefit curves slope
A) upward because of increasing opportunity cost. B) upward, but not because of increasing opportunity cost. C) downward because of increasing opportunity cost. D) downward, but not because of increasing opportunity cost.
How is inflation related to interest rates?
What will be an ideal response?
A crisis caused by sudden capital flight
A) is easy to resolve with capital controls. B) might be lessened if investor confidence can be increased. C) has a clear and unique equilibrium outcome. D) can be corrected through currency devaluation.