If firms in a monopolistically competitive industry are operating with economic losses, over time we would see
A) firms alter their advertising rates until they made at least normal profits.
B) some firms exiting the industry, causing the market supply curve to shift to the left, raising price.
C) some firms exiting the industry, causing the demand curves of the remaining firms to shift to the right.
D) the firms working together to increase price and everyone's profitability.
C
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Money in the United States today includes _______
A. currency and deposits at both banks and the Fed B. the currency in people's wallets, stores' tills, and the bank deposits that people and businesses own C. currency in ATMs and people's bank deposits D. the banks' reserves and bank deposits owned by individuals and businesses
If people buy more than has been produced,
A) the economy is in equilibrium. B) total expenditures are greater than total production. C) there will be an increase in inventory. D) there will be a decrease in total output.