An increase in a monopoly's fixed costs would cause its output to
a. rise.
b. fall.
c. stay the same.
d. impossible to predict.
C
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Refer to the diagram, in which Q f is the full-employment output. A contractionary fiscal policy would be most appropriate if the economy's present aggregate demand curve were at:
A. AD 0 .
B. AD 1 .
C. AD 2 .
D. AD 3 .
Which of the following best describes the reason for studying economics?
a. Studying economics helps individuals, businesses, and governments make the best decisions. b. Studying economics helps individuals, businesses and governments understand the financial problems facing the world today. c. Studying economics gives businesses and governments the answers to economic problems. d. Studying economics only helps governments understand the major problems facing the world today.