Which of the following would be most likely to maintain that spending increases and larger budget deficits would help promote recovery from the recession of 2008-2009?
a. supply-side economists
b. new classical economists
c. Keynesian economists
d. proponents of the crowding-out theory
C
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With price leadership,
a. price equals marginal cost b. the industry output is generally greater than a competitive industry c. prices are set by explicit collusion d. firms price discriminate among different classes of customers e. there is no formal agreement regarding prices
Higher inflation makes relative prices
a. more variable, making it more likely that resources will be allocated to their best use. b. more variable, making it less likely that resources will be allocated to their best use. c. less variable, making it more likely that resources will be allocated to their best use. d. less variable, making it less likely that resources will be allocated to their best use.