If last year's price level was 100 and this year's price level is 114, over the year the inflation rate has been

For a firm, its labor costs are

A) a marginal benefit. B) a private cost. C) an external cost. D) Both answers A and C are correct. E) Both answers A and B are correct.

The theory of "rational expectations" is most closely associated with __________ economists

A) Classical B) Keynesian C) Monetarist D) New Classical