The demand curve for a monopolistically competitive firm is
A) the same as the industry demand curve.
B) more elastic than the demand curve of the perfectly competitive firm.
C) less elastic than the demand curve of the perfectly competitive firm.
D) horizontal.
C
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How do high tariffs and other restraints on international trade affect a nation's prosperity?
a. They increase employment and thereby promote the growth of real GDP. b. They prevent the nation from fully realizing the potential gains from specialization, exchange, and competition. c. They protect domestic producers and thereby promote economic growth. d. Both a and c are correct.
M2 is comprised of
A) small-denomination time deposits + savings deposits + money market accounts. B) small-denomination time deposits + credit cards + money market accounts + gold deposits. C) M1 + small-denomination time deposits + savings deposits + retail money market mutual funds. D) M1 + small denomination time deposits + credit cards + money market accounts.