Author Question: Which of these economic changes was observed during the Great Depression? a. A fall in the domestic ... (Read 92 times)

Yi-Chen · **on:** Jun 30, 2018

Which of these economic changes was observed during the Great Depression?
a. A fall in the domestic price level leading to an increase in import demand
b. A fall in resource prices leading to an increase in aggregate supply
c. An increase in unemployment leading to a decrease in the aggregate demand
d. An increase in the domestic price level leading to an increase in export demand
e. An increase in real GDP leading to an increase in the real interest rate

Question 2

In the long run, a monopolistically competitive firm will set price:
a. at the intersection of the marginal cost and demand curves.
b. at the intersection of the average total cost and demand curves.
c. higher than the competitive level, but lower than the monopoly price.
d. higher than the marginal cost, but lower than average total cost.