Q1. Suppose you have $7000 in savings when the price index is at 100. If inflation pushes the price level up 10% what will be the real value of your savings
Q2. You want to have $6000 eight years from today to purchase a G. Loomis fishing rod and a Van Staal fishing reel. You expect to earn 9%, on average. How much should you invest today to reach your target in 8 years?
Q3. How do prices, output, and profits differ between monopolies and monopolistically competitive firms? Are there similarities?