In the figure above, the minimum price that must be offered for the 5,000th pizza a day to be produced is

Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.

A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher

Price floors and price ceilings:

A. cause the supply and demand curves to shift until equilibrium is established. B. both cause shortages. C. both cause surpluses. D. interfere with the rationing function of prices.