An import quota is the same as an import ban.

Dole Co operates in a monopolistically competitive market. To try to earn an economic profit, Dole Co will

A) prevent other firms from entering the market. B) increase its product's price. C) continually seek to differentiate its product. D) increase output.

Suppose the United States decides to go back on the gold standard. This should

A) improve the Federal Reserve's ability to target inflation. B) decrease the Federal Reserve's ability to pursue active monetary policy. C) increase the effectiveness of expansionary monetary policy. D) increase the effectiveness of contractionary monetary policy.