Figure 19.1 shows the actual behavior of inventories. Based on the figure, in which month is the discrepancy between the actual level of inventories and the desired level of inventories likely to have been smallest?

The first Fed chair to hold a press conference was:

A) Paul Volcker B) Alan Greenspan C) Ben Bernanke D) Mario Draghi

If a firm enjoys producer surplus in perfectly competitive Market A of $1000 and would enjoy producer surplus in perfectly competitive Market B of $1200, the firm would consider moving to Market B if

A) fixed costs are greater than $100 in Market A. B) fixed costs are less than $200 in Market B. C) fixed costs are less than $300 but greater than $200 in Market B. D) fixed costs in Market B are less than the fixed costs in Market A plus $200.