The oversimplified formula for the multiplier yields a number that is too large due to the exclusion of

Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. The current market price is 2 cents per page. With no change in demand and technology, in the long run, the price will

A) remain unchanged. B) rise to 5 cents per page. C) rise to 4 cents per page. D) fall to 1 cent per page.

Among 33 major economies, government spending (relative to GDP) in the United States is ________

A) relatively low B) remarkably high C) about average D) lowest of all