In the United Sates, the average annual rate of growth of real wages was fastest in the period:

Which of the following conditions best explain the short-run economies of operation associated with production of an information product?

A) AVC slopes downward, and AFC is constant, so that ATC slopes downward. B) AVC is constant, and AFC slopes downward, so that ATC slopes downward. C) AFC is constant, and MC slopes downward, so that AVC slopes downward. D) MC is constant, and MC slopes upward, so that AVC slopes upward.

Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.

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