Summing demand curves horizontally sends market ______________ to individuals, while summing vertically sends market ______________ to individuals.

Suppose an economy has the following production function: Y = A × K1/4 × H3/4. Which of the following is true of this economy?

A) Production in this economy exhibits increasing returns to scale. B) Production in this economy exhibits decreasing returns to scale C) Production in this economy exhibits constant returns to scale. D) Production in this economy decreases when the price level increase.

Credit cards are i. a generally accepted form of payment and therefore part of M1. ii. included in M1 because you write a check to pay your monthly bill. iii. a means of borrowing money

A) i only B) ii only C) iii only D) i and ii E) i and iii