In the long run, persistent inflation in the United States is caused by
A) leftward shifts in both the long-run aggregate supply curve and in the aggregate demand curve.
B) rightward shifts in the long-run aggregate supply curve and the leftward shift of the aggregate demand curve.
C) a faster rightward shift of the aggregate demand curve than the rightward shift of the long-run aggregate supply curve.
D) leftward shifts in the aggregate demand curve while the position of the long-run supply curve is unchanged.
C
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According to the principle of Rawlsianism:
A. society should place equal weight on the well-being of every individual. B. society should place all weight on the well-being of its worst-off member. C. society should place all weight on the well-being of its best-off member. D. equal division of society's resources among all members of the population is the most equitable outcome.
Describe the market effects of a carbon tax.
What will be an ideal response?