Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.

The substitution effect of a change in the real interest rate is an example of

A) an intratemporal substitution effect. B) an intertemporal substitution effect. C) an atemporal substitution effect. D) a temporary substitution effect.

Deadweight loss is the net loss to society when a monopolist restricts output and increases the price

Indicate whether the statement is true or false