Economists consider the long run as a period of more than one year.
Answer the following statement true (T) or false (F)
False
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Changes in interest rates cause the same rotations of intertemporal budget lines regardless of whether you are a borrower or a saver.
Answer the following statement true (T) or false (F)
These are the cost and revenue curves associated with a monopolistically competitive firm. 
According to the graph shown, the monopolistically competitive firm:
A. will earn profits equal to area B. B. will cause deadweight loss equal to area C. C. should leave the industry in the long run. D. should act like a monopolist in the short run.
According to the per se rule, activities that were potentially monopolizing tactics were illegal
a. True b. False Indicate whether the statement is true or false
On January 1, 2006, a consumer borrowed $10,000 for a term of one year at an interest rate of 12 percent. How much principal and interest will the consumer pay back on January 1, 2007?
A. $10,000 B. $1,200 C. $8,929 D. $11,200