When the LM curve is vertically sloped, the __________ in income due to a change in the money supply will be __________ when the LM curve is positively sloped, but not vertical

Which of the following is a characteristic of a firm in a perfectly competitive market?

A) The firm must lower its price in order to increase quantity demanded. B) The firm cannot make a profit in the short run because it is too small a part of the total market. C) The firm can make a profit in the long run but not in the short run. D) The firm can sell as much as it wants without having to lower its price.

In the game in Scenario 13.17, Incumbent Monopoly has

A) an incentive to threaten accommodation, which would be credible. B) an incentive to threaten war, which would be credible. C) an incentive to threaten accommodation, which wouldn't be credible. D) an incentive to threaten war, which wouldn't be credible. E) no incentive to make a threat.