A monopoly's marginal revenue is equal to the market price of its product

Will the national debt have to be paid off (i.e., reduced to zero) in the future? a. No, it can continually be refinanced

b. Yes, if it is not paid off, the U.S. Treasury will have to file for bankruptcy. c. No, technically, it is not a contractual obligation of the federal government. d. Yes, but since most of the debt is held by Federal Reserve Bank, its re-payment would merely involve an accounting transaction between the Fed and the Treasury.

The idea that firms incur actual costs when they change prices is known as _____. Firms in countries with lower inflation rates will change price _____ frequently compared to those countries where inflation is higher

Fill in the blank(s) with correct word