If a firm is able to influence its price,
A) it is a monopoly.
B) it has constant marginal revenue.
C) it sells its output at a constant price.
D) it faces a downward-sloping demand curve.
D
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Economic models like the AD-AS model tell us:
A. how to determine which economic variables are changing. B. what to expect if we know what is happening. C. exactly what is happening. D. nothing useful about the real world.
A main reason why the U.S. trade deficit grew so large from 1997 to 2000 was that
a. Congress removed all tariffs and trade restrictions on imports. b. NAFTA was introduced and Mexican exports flooded the United States. c. the international value of the dollar fell during the 1990s, which encouraged U.S. exports. d. the international value of the dollar rose in the last half of the 1990s, which encouraged U.S. imports and damaged U.S. exports.