A budget deficit will be least inflationary if the aggregate
A. demand curve is very steep.
B. demand curve is very flat.
C. supply curve is very flat.
D. supply curve is very steep.
Answer: C
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During periods of high inflation, people want to hold as much money as possible
a. True b. False Indicate whether the statement is true or false
In a decreasing-cost industry, the long-run industry supply curve is
a. horizontal b. vertical c. upward sloping d. downward sloping e. the sum of the individual firm's marginal cost curves
The reason that some people make more money than others is explained mainly by
A. training and education. B. intelligence. C. inborn skills or physical attributes. D. all of the choices/statements are true.
Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Acme and Mega decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Mega cheats on the agreement by reducing its price to $1 while Acme continues to comply with the collusive agreement, then Mega will then sell ________ units and Acme will sell ________ units.
A. 100; 0 B. 100; 50 C. 150; 0 D. 150; 50