A monopolist may make a profit
A. only in the short run.
B. only in the long run.
C. in both the short and long run.
D. in neither the short nor long run.
C. in both the short and long run.
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The foreign exchange rate is the
a. current account b. the law of comparative advantage c. the capital account d. the balance of trade e. the price of one currency in terms of another
Sellers as a group determine the demand for a product, and buyers as a group determine the supply of a product
a. True b. False Indicate whether the statement is true or false
Using the above table, the Gross Domestic Product (GDP) for the country is
A. 662. B. 338. C. 84. D. 746.
Which of the following fiscal policy actions would be appropriate if the economy is experiencing an inflationary gap?
A. an increase in taxes B. an increase in government spending C. an increase in the money supply D. a decrease in interest rates