Firms in an oligopoly market tend to be ____ and have ____ barriers to entry

The tendency to deviate from sound long-run plans in the short-run is known as ________

A) the failure of adaptive expectations B) the failure of rational expectations C) the time inconsistency problem D) the NIMBY, or not in my backyard problem

During the 1970s, countercyclical fiscal policy

a. to spur increases in real GDP failed b. worked better than predicted, curbing inflation while decreasing unemployment rates c. demonstrated that the economy could be fine-tuned using aggressive fiscal policy d. showed that the Keynesian assumption about the shape of the aggregate supply curve was basically correct e. failed to lower the unemployment rate and actually increased the inflation rate