"Which came first, the chicken or the egg?" This question seeks to address the common fallacy of __________ in the context of correlation and causation.

In the long-run ISLM model and with everything else held constant, the long-run effect of a cut in government spending is to ________ real output and ________ the interest rate

A) increase; increase B) increase; not change C) not change; increase D) not change; decrease

The average cost curve

a. is the vertical summation of the AFC and the AVC curves. b. lies below the AVC curve. c. lies below the AFC curve. d. is the vertical summation of the MC and AVC curves.