When television commentators refer to "tax and spend" policy, they are referring to

Which furniture production process would have the highest wage rates?

a. furniture made by handsaw and hammer b. furniture made with power equipment c. furniture made by grade school-educated workers d. furniture made in an automated furniture factory

Assume a purely competitive increasing-cost industry is initially in long-run equilibrium and that an increase in consumer demand occurs. After all economic adjustments have been completed, product price will be:

A. lower, but total output will be larger than originally. B. higher and total output will be larger than originally. C. lower and total output will be smaller than originally. D. higher, but total output will be smaller than originally.