During which of the following periods was growth in GDP per capita the strongest?

On Naomi's pig farm, Naomi hires all the labor used, grows all the grain fed to the pigs, and owns the barn. The costs used to calculate the total cost curve include

a. only the cost of labor. b. only the cost of labor and the cost of grain, which is completely consumed in the period in which it is grown. c. only the variable cost of growing grain. d. the cost of labor, the cost of growing grain, and the opportunity cost of the barn.

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

A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher