Which of the following is one of the main goals of monetary policy?
A. Transferring wealth from lenders to borrowers
B. Rescuing bankrupt private businesses
C. Smoothing out the business cycle
D. Producing deflation
Answer: C
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Which of the following is a problem that arises when trying to classify regional trade agreements?
A) Many agreements combine elements from different categories. B) The definition of free trade area includes that of a customs union. C) Some agreements include cultural issues while others do not. D) The most favored nation clause includes all of them. E) None of the above.
Refer to the information provided in Figure 16.3 below to answer the question(s) that follow. 
Figure 16.3Refer to Figure 16.3. If the firm maximizes profits and the government ________, it will produce 20 units of output.
A. establishes a price ceiling of $8 B. does not require it to take damages into account C. requires it to take damages into account D. establishes a price floor of $6