A firm ________ in the short-run has an incentive to expand its long-run scale of operation.
A. earning positive profits
B. that shuts down
C. breaking even
D. making a loss
Answer: A
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Refer to the payoff matrix below. Which of the following is true for Happy Campers?
A) They have one dominated strategy.
B) They have three dominated strategies.
C) They have two dominated strategies.
D) They have zero dominated strategies.
Unlike the situation for a firm in perfect competition, positive economic profit exists for firms in monopolistic competition for both the short run and in the long run.
Answer the following statement true (T) or false (F)
Which piece of legislation committed the government to pursuing unemployment policies that are consistent with maintaining price stability?
a. The Effective Pricing Act of 1971 b. The Employment Initiative Act of 1998 c. The Employment Act of 1946 d. The Stable Growth Act of 1960