As part of the "wealth channel of monetary policy," a lower money supply __________ interest rates and thus __________ bond prices

The vertical axis of the aggregate demand and aggregate supply graph has the

a) output of goods. b) output of services. c) real GDP. d) the price level.

Once the profit-maximizing output where MR = MC is determined, price is set by

A. adding a standard markup percentage to marginal cost. B. the demand curve. C. making it equal to MR = MC. D. subtracting the marginal cost from total revenue.