An industry in which an increase in output leads to a reduction in long-run per-unit costs is a(n)

Prices under an ideal cartel situation will be equal to

A) monopoly prices. B) competitive prices. C) prices under monopolistic competition. D) marginal cost.

A disadvantage of functional finance is that it: a. does not focus on producing the potential level of output in an economy

b. increases the level of unemployment during recessions. c. allows chronic deficits that magnify into national debt, allowing it to reach an alarming level. d. requires that the budget is balanced even during times of war. e. magnifies fluctuations in the business cycle.