The rate of inflation measures the change in the relative prices of the goods and services produced in the macroeconomy over a specified period of time

If the marginal social cost of producing a ton of cement is $4,000 and the marginal private cost is $3,500, then the

A) marginal benefit of a ton of cement will equal $4,000. B) total cost of producing a ton of cement is $7,500. C) marginal external cost of producing a ton of cement is $500. D) marginal external cost of producing a ton of cement is $7,500. E) marginal external cost of producing a ton of cement is $4,000.

A decrease in the price level, holding the nominal money supply constant, will shift the LM curve

a. upward and to the right. b. downward and to the left. c. downward and to the right. d. upward and to the left.