The market demand curve for a particular good
a. may be horizontal even if the individual consumers' demand curves are downward sloping
b. will always shift to the right as the price of the good decreases
c. is even more likely to be downward sloping than an individual consumer's demand curve
d. will always shift to the right if consumers' incomes increase
e. must be flatter than the flattest of the individual consumer demand curves
C
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Many public utilities are permitted to operate as monopolies because they enjoy economies of large-scale production.
Answer the following statement true (T) or false (F)
New classical economics
a. resulted from the high inflation and unemployment of the 1970s. b. developed in an era of high inflation and unemployment during the 1970s. c. resulted from the dissatisfaction associated with the prevailing Keynesian orthodoxy. d. Both b and c. e. all of the above.
The inevitable cost of protecting domestic industries from foreign competition will be higher prices for domestic consumers
a. True b. False Indicate whether the statement is true or false