All of the following can be used to increase monopoly power except
A. Antitrust laws.
B. Discounts for customer loyalty.
C. Acquisitions.
D. Lawsuits.
Answer: A
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During a period of rapid growth in output,
a. employment generally increases and unemployment decreases. b. employment generally decreases and unemployment increases. c. both employment and unemployment generally increase. d. both employment and unemployment generally decrease.
At price of $1.20, a local pencil manufacturer is willing to supply 150 boxes per day. At a price of $1.40, the manufacturer is willing to supply 170 boxes per day. Using the midpoint method, the price elasticity of supply is about
a. 2.0. b. 1.23. c. 1.00. d. 0.81.
The theory of liquidity preference was developed by Irving Fisher
Indicate whether the statement is true or false
a. True
b. False
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