Monopolistically competitive markets feature heterogeneous products.
Answer the following statement true (T) or false (F)
True
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Money performs all of the following functions EXCEPT serving as a
i. medium of exchange. ii. unit of account. iii. barter mechanism. A) iii only B) ii only C) i only D) ii and iii E) i and ii
Typically, central banks increase the supply of money by ________
A) buying bonds from banks B) printing currency C) directing the government to issue more money to banks D) all of the above E) none of the above
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
A private good is a good that:
A. is nonrival. B. is not excludable. C. is provided only by private sectors. D. is consumed by a single person or household.