Contractionary fiscal policy to prevent real GDP from rising above potential real GDP would cause the inflation rate to be ________ and real GDP to be ________

A higher expected price tomorrow will tend to

A) shift today's demand curve to the left. B) shift today's demand curve to the right. C) have no effect on today's demand curve. D) have no effect on tomorrow's demand curve.

A copper ore refiner pollutes the water upstream from a brewery. These are the only two parties involved. The transactions costs of reaching an agreement between the refinery and the brewery are low

The amount of water pollution will be at the efficient level A) only when the property right to the stream is assigned to the ore refinery. B) only when the property right to the stream is assigned to the brewery. C) when the property right to the stream is assigned to either the refinery or to the brewery. D) when no one has clear property rights.