Refer to Table 8-21. Consider the following data for a simple economy: Calculate nominal GDP and real GDP for 2016, using 2014 as the base year. Show your work

Gradual emancipation laws adopted by some Northern states:

a. used tax revenues to compensate slave owners for the financial loss associated with freeing slaves. b. provided for all newborn children of slaves to be freed at birth. c. provided for the freedom of female slaves, but not male slaves. d. recognized that after age 10 the cost of a slave to the owner was less than the benefit of a slave to the owner.

Use the following graph for a pure monopoly operating in the short run to answer the next question.At the profit-maximizing level of output, this firm ________.

A. faces a total fixed cost equal to the area of BEFC B. should shut down C. generates a loss per unit equal to DE D. generates an economic profit equal to the area of ABED