Suppose the economy is initially operating at full employment. A reduction in the size of the budget deficit will cause which of the following in the long run?

Consider an industry that produces an output Q with marginal private cost (MC) and marginal social cost (MSC) as given in the table:

Q MC MSC 1 2 4 2 4 7 3 6 10 4 8 13 5 10 16 Which of the following is TRUE? A) The production of each additional unit results in a larger marginal external cost. B) The production of each additional unit results in the same marginal external cost. C) The production of each additional unit results in a lower marginal external cost. D) There are no marginal external costs associated with the production of this good.

The rule of reason was an antitrust law guideline that emphasized the importance of ____ over ____

a. price; quantity b. quantity; price c. law; the economy d. size; behavior e. behavior; size