Which of the following statements about straight-line demand curves is true?
a. The price elasticity of demand becomes larger in absolute value as price falls.
b. The price elasticity of demand becomes smaller in absolute value as price falls.
c. The price elasticity of demand is constant along the curve.
d. The price elasticity of demand and the slope of the demand curve are the same.
e. Demand is price elastic everywhere along the curve.
B
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Suppose the figure below shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist. 
The profit-maximizing price for this monopolist to charge is:
A. A. B. C. C. B. D. E.
"Other things remaining the same, if the price of a good rises, the quantity supplied of that good increases." This sentence describes a
A) shift of a supply curve. B) shift of the price curve. C) movement along a supply curve. D) movement along the price curve. E) movement along the quantity curve.
Currency reserves on account with the International Monetary Fund used to settle accounts between countries are known as
A) federal reserves. B) official reserve account transactions. C) unilateral transfer. D) special drawing rights.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.