In the short run, an extremely large budget deficit run by a government can:
a. shift the aggregate demand curve to the right and cause deflation

Discuss the relationship between the aggregate supply curve and the short-run Phillips curve

What will be an ideal response?

What does the phrase "internalizing an external cost" mean?

A) forcing producers to factor into their production costs the cost of the externalities created in the production of their output B) finding a way to address cross-border pollution C) limiting the extent to which domestic firms can outsource production D) prohibiting economic activities that create externalities