Relative to a perfectly competitive market with the same cost and demand, a single-price monopolist produces ________ output and has a ________ price

When total planned real expenditures change due to the changes in net exports, this is known as the

A) interest rate effect. B) real-balance effect. C) open economy effect. D) aggregate balances effect.

The budget line is useful for illustrating the notion of opportunity cost

a. True b. False