Suppose the consumer price index (CPI) stands at 250 this year. If the inflation rate is 10 percent, then next year's CPI will equal:

The supply-side economists expect that a cut in the marginal income tax rate, with lost revenues made up by a cut in government spending, would

a. increase output. b. decrease output. c. leave output unchanged. d. affect output but the direction of the effect is uncertain.

Oligopoly is characterized by

A. some industries producing differentiated products. B. some industries producing identical products. C. few firms. D. all of the choices.