Exports as a percentage of global GDPs have declined since 1980

Refer to Figure 10.1. Suppose that the government decides to limit monopoly power with price regulation. If the government sets the price at the competitive level, it will set the price at ________

A) P1 B) P2 C) P3 D) P4 E) none of the above

Monetary policy actions by the Fed are:

A. More effective in a restrictive direction than they are in an expansionary direction B. More effective in an expansionary direction than they are in a restrictive direction C. Equally effective in both expansionary and restrictive directions D. Only effective when coupled with fiscal policy actions