In the figure above, with the rent ceiling ________ units of housing are available, and black market rents might be as high as ________ a month

We may infer from the downward slope of the IS curve that lower interest rates are associated with ________

A) higher output B) higher saving and/or lower net exports C) higher investment D) all of the above E) none of the above

When a profit-maximizing firm's fixed costs are considered sunk in the short run, then the firm

a. can set price above marginal cost. b. must set price below average total cost. c. will never show losses. d. can safely ignore fixed costs when deciding how much output to produce.