In the above figure, the perfectly competitive firm's shutdown point is at a price of

Which of the following statements is TRUE?

A) Free trade is beneficial only if your country is strong enough to stand up to foreign competition. B) Free trade is beneficial only if your competitor does not pay unreasonably low wages. C) Free trade is beneficial only if both countries have access to the same technology. D) Free trade is never beneficial for developing countries. E) Free trade can be beneficial to economic welfare of all countries involved.

Fed policies since the mid-1980s have been intended to

A) steepen the growth path of natural real GDP. B) taper down the growth rate of actual real GDP as it approaches natural real GDP. C) accelerate the growth rate of natural real GDP whenever actual real GDP exceeds it. D) use the "runway" of natural real GDP as a springboard to faster growth.