The monopolist, like the perfect competitor, maximizes profits at the output where marginal revenue equals marginal cost

Which of the following statements is true?

A) Because the cost of labor used on farms is so high, the United States exports very little of its wheat, rice and corn crops. B) France is the leading exporting country, accounting for 10 percent of total world exports. C) Japan is more dependent on foreign trade than is the United States. D) Imports and exports account for over one-half of the GDP of Belgium.

In the short-run macro model, adjustment toward equilibrium is facilitated by price changes

a. True b. False