A monopolistic competitor is surrounded by barriers to entry and need not fear the entry of new firms in the long run

The monetary multiplier is 3 and the change in the monetary base is $100,000. How much will the quantity of money increase?

A) $300,000 B) $200,000 C) $100,000 D) $70,000 E) $33,333

Which of the following correctly identifies an impact of the opening of trade for an industry with external economies?

A. Consumers of the product in the importing country lose consumer surplus. B. Producers of the product in the exporting country lose producer surplus. C. Producers of the product in the importing countries lose producer surplus. D. Consumers of the product in the exporting country lose consumer surplus.