If a corporation were forced to absorb the cost of a spillover from the production of a good, this would likely cause the supply curve for the good to

During an expansion, how do inflation and unemployment typically change?

A) Inflation and unemployment both fall. B) Inflation falls and unemployment rises. C) Inflation and unemployment both rise. D) Inflation rises and unemployment falls.

If perfect competition existed everywhere, along with frictionless exchange, perfect information, and constant returns to scale,

a. consumers would carry out transactions directly with resource suppliers b. firms would not have the information necessary to calculate marginal productivities of resources c. entrepreneurs would be needed to collect information d. consumers would produce output and then engage in barter e. the economy would be organized into one large firm