Imagine that in 2015 the economy is in long-run equilibrium. Then stock prices rise more than expected and stay high for some time. Refer to Stock Market Boom 2015. Which curve shifts and in which direction?

For all firm types price equals marginal revenue, and for competitive firms price equals average revenue

a. true b. false

Engerman's (1971) studies of the Civil War (1861–1865)'s impact on industrialization

(a) support the previous work of Hacker and Beard. (b) showed that the War sped up the ongoing processes of industrialization. (c) showed that the War effort slowed down industrialization. (d) restricted the real cost of the War to the South.