Refer to the information provided in Figure 15.2 below to answer the question(s) that follow. 
Figure 15.2 Refer to Figure 15.2. If We Do Hair maximizes profits as a monopolistically competitive firm, it ________ of $320.
A. is suffering a loss of
B. has a total cost
C. is earning a profit
D. receives a total revenue
Answer: C
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
What are the implications of the quantity theory of money for monetary policy and price stability?
What will be an ideal response?
Assume that Sofia's marginal utility from pizza consumption is 10 utils and the price is $2.00 per slice. Further, assume that her marginal utility from scone consumption is 20 utils and the price is $3.00 per scone. Which of the following is true? a. With her existing budget she should increase her consumption of pizza
b. With her existing budget she should increase her consumption of scones. c. She is currently maximizing her utility and should not change the amount of consumption for either good with her current budget. d. If her budget increases, she should increase her consumption of pizza but not scones. e. If her budget increases, she should increase her consumption of scones but not pizza.
Which of the following would a Keynesian macro model include to describe the effect of a tax cut?
A. Multiplier spending responses. B. Interest rate rises. C. Labor supply and production responses. D. A positive relationship between interest rates and investment.