Most income tax revenues are collected by _____

In the above figure, at a price of $8, a perfectly competitive firm produces ________ and it ________

A) 0; incurs an economic loss B) 0; makes zero economic profit C) some output; makes zero economic profit D) some output; makes an economic profit

Whenever the general level of prices rises because of continual increases in aggregate demand, we say that the economy is experiencing

A) supply-side inflation. B) monetary stagflation. C) demand-side inflation. D) aggregate supply shock.