The figure below shows the demand curve, marginal revenue curve, marginal cost curve and average total cost curve for a monopolist. 
At this monopolist's profit-maximizing level of output, it:
A. earns an economic profit of $16 per day.
B. earns an economic profit of $64 per day.
C. incurs an economic loss of $16 per day.
D. incurs an economic loss of $64 per day.
Answer: C
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
The soft drink industry can best be described as:
A) an oligopoly. B) a monopoly. C) perfectly competitive. D) monopolistically competitive.
In the above table, the trade balance on goods and services for Country X is ________ billion dollars
A) +25 B) -100 C) +100 D) -25
Billionaires get most or all of their income from
A. wages and salaries. B. property. C. government transfer payments.