Protection from foreign competition benefits domestic producers in the protected industry at the expense of domestic consumers

The key reason that the Soviet Union failed to develop new ways to make the economy efficient and was therefore not able to sustain economic growth was due to

A) the Soviet Union relying on entrepreneurs to develop new production technologies. B) the typical behaviors of managers and employees in a centrally planned economy. C) the failed attempt to convert to a market-based economy. D) the Soviet Union's lack of accumulating capital goods.

If government spending increases, which of the following would be most likely in the short and in the long run? (Both comparisons are with regard to the original price level/output combination.)

a. Short-run increases in the price level, no change in output; long-run increases in output and in the price level b. Short-run increases in output and in the price level; long-run increase in output, decrease in the price level c. Short-run decreases in output and in the price level; long-run increase in the price level, no change in output d. Short-run increases in output and in the price level; long-run increase in the price level, no change in output e. Short-run decreases in output and in the price level; long-run decreases in output and in the price level