Within perfect competition, an individual firm _______ affect price by changing output. A market as a whole _______ affect price by changing market output.
Fill in the blank(s) with the appropriate word.
Answer: cannot; can
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Country X is the largest producer and exporter of oil in the world. Which of the following is likely to happen if the world demand for oil increases?
A) Country X's labor demand curve will shift to the right. B) Asset prices in Country X will fall. C) Country X's labor supply curve will shift to the left. D) Consumption expenditure in Country X will fall.
Refer to the production possibilities frontier in the figure above. Production point ________ represents an ________ production point
A) b; unattainable B) c; unattainable C) e; inefficient D) c; inefficient
Explain the dynamic rationale for economic integration among developing countries
What will be an ideal response?