Every fiscal or monetary action will affect the distribution of output as well as its volume

Neoclassical growth theory assumes that technological progress

A) is determined by investment. B) is determined by saving. C) responds to economic incentives. D) is a purely chance event.

The monopolist faces a downward sloping demand curve, and maximizing profits requires the monopolist to

A) accept the market price for its product. B) will produce where the demand curve is inelastic. C) search for the price consistent with producing to the point at which marginal revenue equals marginal cost. D) search for the highest possible price consistent with maximizing its revenues, irrespective of its explicit and implicit opportunity costs.