Figure 33-8
?

In Figure 33-8, which of the following movements reflects the Fed’s anti-inflationary policy of the early 1980s and the following market adjustment?

During a recession, both output and unemployment fall

a. True b. False

If a local community has only one doctor, the monopoly power of the physician will

a. be small if entry barriers into the local market are high. b. depend on how many other physicians there are in the national market. c. be total since there are not any other providers of the same service in the local market. d. be minimal if the entry barriers restricting competition from other physicians are low.