Refer to the table below. The perfectly competitive firm has a random demand with a 50 percent chance of being $5 and a 50 percent chance of being $7. What quantity should the firm produce to maximize its expected profit?

Which of the following is NOT an expected consequence of balancing the federal government's budget?

A) increased private investment B) increased borrowing from foreigners C) reduced interest payment to foreigners D) B and C.

The Federal Reserve increases the federal funds rate. The resulting economic change will be represented by a(n): a. upward movement along the short-run Phillips curve. b. downward movement along the short-run Phillips curve. c. rightward shift of the short-run Phillips curve

d. leftward shift of the short-run Phillips curve.