The net benefits that a nation receives from trade are called its gains from trade.

In the figure above, if real GDP is $10 trillion, aggregate planned expenditure is

A) equal to $10 trillion and there are no unplanned inventory changes. B) less than $10 trillion and unplanned inventory changes are positive. C) equal to $10 trillion and unplanned inventory changes are negative. D) more than $10 trillion and unplanned inventory changes are negative. E) equal to $10 trillion and unplanned inventory changes are positive.

Long-run equilibrium for a monopolistic competitor is characterized by

A) a price exceeding marginal cost. B) marginal cost pricing. C) economic profits. D) too few firms in the industry.