Monetary policy has an important influence on _____ and _____ in the short run

Demand-pull inflation is most likely to occur during a period of

a. stagflation b. rising input costs c. rising unemployment d. military expansion e. corporate restructuring

Suppose external benefits are present in a market which results in the actual market price of $14 and market output of 150 units. How does this outcome compare to the efficient, ideal equilibrium?

a. The efficient outcome would be greater than 150 units. b. The efficient outcome would be less than 150 units. c. The efficient outcome would also be 150 units. d. The efficient price would be less than $14.