The figure above shows a natural monopoly that the government must regulate. If the government uses ________, the firm produces ________ units per week

The progressive income tax is an automatic stabilizer with respect to the Federal government's budget surplus or deficit because

A) individuals must "automatically" pay taxes even when they have a deficit. B) during periods of output growth, a greater percentage of real income "leaks" from the expenditure stream. C) during periods of output growth, the marginal leakage rate increases as taxes decrease. D) None of the above.

The time interval in which suppliers can change the quantity of all the resources they use to produce goods and services is called

a. the short run b. the long run c. equilibrium d. the supply schedule e. excess supply