Monopolistic competition differs from perfect competition only with regard to the number of firms participating in the market

A hypothesis that assumes that people combine the effects of past policy changes on economic events and their own judgment about future effects of current and future policy changes is known as

A) active expectations. B) modern expectations. C) rational expectations. D) adaptive expectations.

Which of the following increases aggregate supply in the short-run, everything else held constant?

A) an increase in the price of crude oil B) a successful wage push by workers C) expectations of a higher inflation D) a technological improvement that increases worker productivity