A perfectly competitive firm facing a price of $10 decides to produce 100 units. If its marginal cost of producing the last unit is $12 and it is seeking to maximize profit, the firm should:

An economic forecast:

a. will always be true. b. is more reliable than a weather forecast. c. will never provide valuable information. d. should not be relied upon to predict economic events. e. is always based upon a Ceteris paribus condition.

Hyperinflation is caused by

A) a constant increase in the money supply. B) a high rate of growth in the money supply. C) real GDP growing more rapidly than the money supply. D) the money supply growing more slowly than GDP.