Refer to the information provided in Figure 25.1 below to answer the question(s) that follow.
Figure 25.1Refer to Figure 25.1. The movement from C to B could be cause by
A. an increase in the interest rate.
B. a decrease in nominal income.
C. an increase in nominal income.
D. a decrease in the interest rate.
Answer: D
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Which of the following is true when a Nash equilibrium is reached in a duopoly with homogeneous products?
A) Both the firms earn positive economic profits. B) Each firm charges a price equal to its average fixed cost. C) Both the firms earn zero economic profits. D) Both firms incur huge losses.
Assume the price of pizza decreases. As a result, your real income increases and you increase the quantity of pizza purchased each month. This is an example of the:
A. substitution effect. B. income effect. C. revenue effect. D. consumer price effect.
What is the effect on velocity if payments are made more often?
A. Velocity will decrease. B. Velocity will increase. C. Velocity will remain constant. D. Velocity is unrelated to payments.
Refer to the information provided in Figure 15.5 below to answer the question(s) that follow. 
Figure 15.5 Refer to Figure 15.5. Assume The Custom Sweater Shop has fixed costs of $350 and is a monopolistically competitive firm. To maximize profits in the short run, this firm should produce ________ personalized sweaters.
A. 0 B. 50 C. 100 D. 75