If antitrust legislation is successful, then the monopolistic firm will
A) decrease output and charge a lower price than before.
B) increase output and charge a higher price than before.
C) increase output and charge a lower price than before.
D) decrease output and charge a higher price than before.
C) increase output and charge a lower price than before.
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Indicate whether the statement is true or false
If there is an autonomous increase in spending (a rightward shift in the aggregate demand curve) and the Fed wishes to hold real income constant, then the Fed would:
A) decrease the money supply yielding a leftward shift in the aggregate demand curve. B) increase the money supply yielding a rightward shift in the aggregate demand curve. C) hold the money supply constant. D) none of the above.
Union membership is likely to fall as growth in tertiary employment occurs in the private sector
Indicate whether the statement is true or false
In the long run:
A. price and output levels are mutually dependent. B. the level of output depends on the price level. C. the level of output is independent of the price level. D. the price level depends on the level of output.