If the transactions approach to measuring money is used, then the money supply consists of

A monopoly is best defined as a firm that

A) produces a good or service for which no close substitute exists and which is protected by a barrier that prevents other firms from selling that good or service. B) purchases its resources from only one supplier because of a barrier preventing it from buying from other suppliers. C) produces a good or service for which no close substitute exists and that sells all its output to one buyer because there is barrier preventing other buyers from purchasing the good or service. D) cannot control the price it sets for its good or service because there is barrier that prevents the firm from changing the price.

Constant cost industries: a. use large portions of the total supply of specialized resources

b. significantly increase the demand for inputs when expanding output, and as a result, input prices rise. c. do not use inputs in sufficient quantities that a change in industry output would affect the prices of the inputs. d. are those in which the cost curves of individual firms shift upwards as industry output expands.