Of the collection of supply and demand diagrams in Figure 2.2, which one shows the result of a decrease in the number of sellers in the market for anything?

The phrases "once in, always in" and "once in, always grows" aptly describe a criticism of the Keynesian policy prescription for

a. the self-correcting nature of the economy b. moderating aggregate output c. closing a recessionary gap with government spending d. the balanced budget multiplier e. closing an inflationary gap

An increasing-cost industry is the result of:

A. higher resource prices that occur as the industry expands. B. a change in the industry's minimum efficient scale. C. X-inefficiency. D. the law of diminishing returns.