If Jacqueline is willing to accept $1 for a cupcake and Jameson is willing to pay $3 for a cupcake, the cooperative surplus will ________ if the negotiated price is $1.50 as opposed to $2.00

Monetarists believe that the major source of macroeconomic instability lies in

A) the private investment sector and the government sector. B) the government sector. C) private corporations and the government sector. D) export and import sector.

Inflation is undesirable because it:

A. arbitrarily redistributes real income and wealth. B. invariably leads to hyperinflation. C. usually is accompanied by declining real GDP. D. reduces everyone's standard of living.