The theory of "rational expectations" is most closely associated with __________ economists

This type of firm would likely operate as a monopoly

A) one of many U.S. wheat farmers. B) one of the few U.S. auto makers. C) AT&T long distance phone service. D) the local water company.

In economics, specialization means

a. producing something using only one type of resource, such as labor b. producing something using only one type of labor c. focusing efforts on a particular product or a single task d. producing only one unit of output e. producing something using only one unit of a variable resource