If voters are rationally ignorant, then the interest of the bureaucracy to maximize its budget will result in an oversupply of a public good

When the quantity demanded of labor exceeds the quantity of labor supplied, the market wage rate is

a. below equilibrium b. above equilibrium c. at its equilibrium level d. equal to the workers' MRP e. equal to the workers' opportunity cost

If the aggregate supply curve is flat,

a. expansionary fiscal or monetary policy will cause a good deal of inflation with little increase in real output. b. expansionary fiscal or monetary policy will buy large gains in real output at low cost in terms of inflation. c. a contractionary stabilization policy is an effective way to reduce inflation. d. decreasing the income tax will not shift aggregate demand.