The figure above shows the costs associated with producing paper. When paper is produced, there is some pollution runoff into a lake. Without regulation, ________ tons of paper will be produced and the price will be ________ per ton

The cost of inflation to society includes I. The opportunity costs of resources used by people to protect themselves against inflation II. The costs associated with recalculating prices

A) I only B) II only C) Both I and II D) Neither I nor II

In the expectations-augmented Phillips curve, ? = ?e - 3(u - 0.06). When ? = 0.06 and ?e = 0.03, the unemployment rate is

A. 0.04. B. 0.05. C. 0.06. D. 0.07.