Research in history and economic history shows that before 1880, significant federal participation in the markets of the American economy occurred

In a persisting demand-pull inflation,

A) aggregate supply decreases and aggregate demand increases. B) aggregate demand decreases and aggregate supply decreases. C) aggregate demand increases and potential GDP decreases. D) aggregate supply increases and aggregate demand increases. E) None of the above answers is correct.

When the marginal revenue resulting from a decrease in price is negative, demand for the product is:

A) elastic. B) unit elastic. C) inelastic. D) cannot be determined without more information.