A country's balance of payments summarizes all economic transactions during a given period between residents of that country and residents of other countries

Which of the following firms is likely to have the highest market power?

A) A perfectly competitive firm B) A monopolistic competitor C) A monopoly D) An oligopoly with homogeneous products

If it is less costly for business firms to adjust the labor demanded as the price level changes than it is for households to adjust Ns, then in the short-run

A) Ns has a positive slope and the demand for labor (Nd) negative slope. B) Nd has a negative slope and the supply of labor (Ns) a positive slope. C) AD has a negative slope. D) SAS has a positive slope.