A perfectly competitive firm cannot affect the market price by raising or reducing its supply of a product

The immediate effects of a discretionary increase in government spending are represented by a: a. rightward shift of the aggregate demand curve. b. leftward shift of the aggregate demand curve. c. rightward shift of the Phillips curve

d. leftward shift of the Phillips curve. e. movement along the Phillips curve.

Most macroeconomists agree that the fundamental issues facing an economy are

a. unemployment and inflation, and what should be done about them b. the economy's long-run equilibrium position and how to get there c. the quantity of money and its velocity d. the long-run Phillips curve and the Laffer curve and whether they generate conflicting outcomes e. government deficits and high taxes