Market systems can be evaluated as efficient or inefficient, but not as fair or unfair.

The actual government budget surplus ________ be used to determine the effectiveness of discretionary fiscal policy actions because ________

A) cannot; it excludes non-discretionary spending changes B) can; it includes non-discretionary spending changes C) cannot; it includes non-discretionary spending changes D) can; it excludes automatic stabilization expenditures

In the long run, in a monopolistically competitive market, price will be

A) equal to MR. B) equal to MC. C) greater ATC. D) equal to ATC.