Which of the following statements about the United States during the twentieth century is correct?
A) Output growth has been approximately equal to employment growth.
B) Output growth has been slower than employment growth.
C) Output growth has been faster than employment growth.
D) Output has increased largely due to monetary and fiscal policy.
E) Output has decreased largely due to monetary and fiscal policy.
C
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Use the following graph for a monopolistically competitive firm to answer the next question. 
Excess capacity for this firm would be illustrated by the quantity
A. E - D. B. D - 0. C. D - C. D. E - C.
If you want to earn a high income you should figure out what others value because
A) you will then be able to charge higher prices than alternative suppliers. B) you will be able to gain at the expense of others. C) you will not have to compete in the job market. D) others will be willing to pay attractive prices for things they value.
The market demand for a monopoly firm is estimated to be:Qd = 100,000 - 500P + 2M + 500PRwhere Qd is quantity demanded, P is price, M is income, and PR is the price of a related good. The manager has forecasted the values of M and PR will be $50,000 and $20, respectively, in 2016. For 2016, the forecasted demand function is
A. Qd = 100,000 - 100P B. Qd = 200,000 - 100P C. Qd = 300,000 - 500P D. Qd = 600,000 - 100P E. none of the above
Refer to the information provided in Figure 10.3 below to answer the question(s) that follow. 
Figure 10.3 Refer to Figure 10.3. If labor supply is given by S1 and the firm is using K1 units of capital, this firm should hire ________ units of labor to maximize profit.
A. I0 B. I1 C. I2 D. I3