Refer to the above figure. Which panel represents the long-run situation for a monopolistically competitive firm?

Which of the following is a criterion by which Gordon judges the desirability of any given level of actual real GDP?

A) Actual real GDP is too low if it causes the unemployment rate to be higher than necessary. B) Actual real GDP is too high if it strains a nation's ability to produce and puts upward pressure on the inflation rate. C) Actual real GDP is at a desirable level if there is no tendency for inflation to accelerate or decelerate. D) All of the above.

The ratio of trade to GDP for the U.S. has roughly tripled since the 1960s

Indicate whether the statement is true or false