If a society uses the market system, only markets are available to solve all of its problems.

The table above shows the demand and costs for a single-price monopolist. The firm will

A) maximize profit by producing 3 units. B) maximize profit by producing 2 units. C) operate on the inelastic portion of its demand curve. D) operate on the unit elastic portion of its demand curve.

According to the quantity theory, in the long run, an increase in the growth rate of ________ leads to an increase in the ________

A) real GDP; inflation rate B) the quantity of money; growth rate of real GDP C) the quantity of money; inflation rate D) real GDP; growth rate of velocity