Government spending that shifts income from one group of society to another, such as price subsidies and cash payments, is known as

To an economist, total costs include

A) explicit, but not implicit costs. B) implicit, but not explicit costs. C) explicit and implicit costs. D) neither explicit nor implicit costs.

Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.

A. lower; potential B. higher; higher C. higher; potential D. lower; higher