Author Question: Looking at historical evidence for the United States and other countries, which of the following are ... (Read 83 times)

neverstopbelieb · **on:** Jun 29, 2018

Looking at historical evidence for the United States and other countries, which of the following are TRUE?

I. There is a correlation between the growth rate of the quantity theory of money and the growth rate of real GDP.
II. There is a correlation between the growth rate of the quantity theory of money and the inflation rate.
A) Only I is true.
B) Only II is true.
C) Both I and II are true.
D) Neither I or II is true.

Question 2

Which of the following statements regarding a profit-maximizing monopolistically competitive firm is NOT true?

A) The MR curve lies below the demand curve.
B) The firm produces the quantity at which the MR curve intersects the MC curve.
C) The MC curve intersects the ATC curve at the ATC curve's lowest point.
D) The firm's price equals the price at which the MR curve intersects the MC curve.