In response to a shortage the market price of a good will rise; as the price rises, the demand will decrease and supply will increase until equilibrium is reached

In the long run, prices in a monopolistically competitive industry ________ prices without trade.

a. will be higher than b. will be lower than c. will be equal to d. will be the same as

The above table gives assets and deposits for a (small) bank. The bank's deposits that are part of M1 are equal to

A) $3,100. B) $3,130. C) $1,600. D) $600. E) $30.