If an economy produces 3,000 units of output with a money supply of $500 and a velocity of 9, we know the price level must be:

The best example of a cyclically unemployed individual is

A) Charles who lost his job as a real estate salesperson when the housing market went soft because of a recession. B) Alice who quit her job to enter college. C) Mary who lost her job in the textile industry following a decrease in the tariff on textiles. D) Bob who has just graduated from college and is entering the labor market.

In the Cournot model, if a firm's marginal cost increases, its best-response function will

A) shift inward. B) not change. C) shift outward. D) The shift is ambiguous.