In the long-run, a monopolist charges the same price as a perfectly competitive firm.

Contractionary policies help correct a balance of payments deficit by

a. lowering domestic incomes but raising demand for imports b. raising domestic incomes but lowering demand for imports c. raising both domestic incomes and demand for imports d. lowering both domestic incomes and demand for imports e. lowering interest rates and increasing aggregate spending

What might happen to a county's economy and standard of living without property rights?

A. Increase because people will be producing more goods and services B. Stay the same C. Increase because there are more inventive to produce goods and services D. Decrease because there are fewer incentives to produce goods and services