Fluctuations around the long-term growth rate are called:

Which of the following is not true about a profit-maximizing monopolist?

a. The monopolist faces the downward-sloping market demand curve. b. The monopolist always earns an economic profit. c. The price of output exceeds marginal revenue. d. The monopolist chooses output where marginal revenue equals marginal cost. e. All of these are true.

A stock index measures the:

a. change in dividend payments of a group of stocks. b. fluctuation in the price-to-earnings ratio of each share. c. change in the trading volume in the stock exchange. d. price movements of a group of stocks. e. change in the number of enlisted companies.