Under monopolistic competition, firms make zero economic profit in the long run and produce at the minimum ATC
Indicate whether the statement is true or false
FALSE
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Nominal GDP will increase
A) only if the quantity of final goods and services produced rises. B) if either the price level or the quantity of goods and services produced rises. C) only if the price level rises. D) only if the price level falls.
A bond with a par value of $1,000 is traded at $2,000 . The interest rate offered on the bond is 10 percent per annum. The bond matures after a period of 5 years. The yield from the bond is:
a. 5 percent. b. 10 percent. c. 20 percent. d. 15 percent. e. 2.5 percent.
In 2007, Trailblazer Bicycle Company produced a mountain bike that was delivered to a retail outlet in November of 2007. The bicycle was sold to E.Z. Ryder in March of 2008. This bicycle is counted as:
a) consumption in 2007 and as negative investment in 2008. b) negative investment in 2007 and as consumption in 2008. c) negative investment in 2007 and as investment in 2008. d) investment in 2007 and as negative investment in 2008.
Suppose two companies, Macrosoft and Apricot, and considering whether to develop a new product, a touch-screen t-shirt. The payoffs to each of developing a touch-screen t-shirt depend upon the actions of the other, as shown in the payoff matrix below (the payoffs are given in millions of dollars). 
If Macrosoft and Apricot make their decision at the same time, then which of the following statements is correct?
A. The only Nash equilibrium is that both develop a touch-screen t-shirt. B. The game does not have a Nash equilibrium. C. The game has more than one Nash equilibrium. D. The only Nash equilibrium is that neither develops a touch-screen t-shirt.