Over a year, the money supply in a nation grew by 8 percent, while velocity rose by 2 percent and real GDP rose by 3 percent. This results in an inflation over the year of ________ percent

Two firms make most of the consumer alkaline batteries in the country: Duracell and Energizer. The market for batteries is most likely

A) a monopoly. B) an oligopoly. C) perfectly competitive. D) monopolistically competitive.

In the above table, if the market is perfectly competitive and unregulated, the equilibrium output will be

A) 1,000 units. B) 2,000 units. C) 3,000 units. D) 4,000 units.