Diseconomies of scale exist over the range of output for which the long-run average cost curve is:

The assumption that people may choose to hold excess money balances when there is an increase in the money supply is emphasized by

A) supply-side economists. B) Monetarists. C) Keynesians. D) rational expectations theorists.

The price elasticity of demand measures

A) the consumers' sensitivity to a price change. B) the producers' sensitivity to a price change. C) how much the market price changes in response to a change in demand. D) how much the demand changes in response to a change in income.