If the level of output produced by the firms in a perfectly competitive market has no effect on the prices of the inputs used by the firms, the market supply curve will be flatter than the supply curve for an individual firm in the market

A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut

A) increase; more B) decrease; more C) increase; less D) decrease; less

Economists define technology as

A. entrepreneurship. B. society's knowledge concerning the production of goods. C. absolute advantage. D. machines such as computers.