Suppose that the "Millennial" generation values leisure more than past generations. We can expect a decrease in the labor supply as the Millennials enter their prime working ages and a corresponding decrease in wages

As the Fed lowers the federal funds rate,

A) the price level falls. B) real GDP decreases. C) aggregate demand increases. D) aggregate supply increases. E) aggregate income decreases.

Refer to Figure 15-9. What is the difference between the monopoly output and the perfectly competitive output?

A) 140 units B) 240 units C) 340 units D) 560 units