Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.

Based on the figure above, curve D is the firm's

A) marginal cost curve. B) total cost curve. C) average total cost curve. D) average variable cost curve. E) average fixed cost curve.

The gains from expanding trade are more important to the low-income economies in the world than to the high-income economies

a. True b. False Indicate whether the statement is true or false