Union leaders who focus on increasing the size of their union will generally accept a wage just above the competitive level

In the long run, a monopolistically competitive firm will produce where:

a. average cost equals price. b. average cost equals marginal revenue. c. marginal revenue equals price. d. marginal cost equals price.

An expansionary monetary policy shifts the LM curve to the ________, reducing ________, everything else held constant

A) left; output and increasing interest rates B) left; both real output and interest rates C) right; both interest rates and real output D) right; interest rates and increasing real output