According to the new classical school, if macroeconomic policy is perfectly predictable, then the aggregate supply curve and the Phillips curve must be vertical in both the short run and the long run

Using the data in the table above, the equilibrium quantity and equilibrium price for a cellular telephone is

A) 50,000 and $100. B) 80,000 and $80. C) 60,000 and $50. D) 40,000 and $20. E) 100,000 and $20.

How does government expenditure discourage some private investment?