If the economy's resources are fully employed and prices are starting to rise, the Fed can ________ the money supply in an attempt to reduce inflationary pressure. If this action is well-calculated, output will ________

If there are economic profits in a monopolistically competitive industry, they will generally be competed away through the

A) manipulation of the demand curve. B) increasing advertising budgets of existing firms. C) entry of new firms. D) introduction of brand name products by existing firms. E) exit of existing firms.

Which of the following does NOT affect the position of the DD curve?

A) monetary policy B) government spending C) taxes D) export demand E) price levels