A monopolist
a. has a supply curve that is upward-sloping, just like a competitive firm.
b. does not have a supply curve because the monopolist sets its price at the same time it chooses the quantity to supply.
c. has a horizontal supply curve, just like a competitive firm.
d. does not have a supply curve because marginal revenue exceeds the price it charges for its products.
b
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Under fiscal stabilization policy in the New Keynesian model, after a positive shock to output,
A) the government increases expenditures and the central bank increases the money supply. B) the government increases expenditures and the central bank decreases the money supply. C) the government decreases expenditures and the central bank increases the money supply. D) the government decreases expenditures and the central bank decreases the money supply.
When the world price of the traded good is lower than the domestic no-trade equilibrium price, free trade causes domestic production to fall and domestic consumption to rise
a. True b. False Indicate whether the statement is true or false