When the economy responds to a supply shock, there is ________ in the short run and ________ in the long run between inflation and unemployment

Refer to Table 3-1. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. At a price of $4, the quantity demanded in the market would be

A) 40 lbs. B) 70 lbs. C) 110 lbs. D) 150 lbs.

A decrease in the price level causes a ________ the IS curve and a ________ the aggregate demand curve

A) movement up along; movement up along B) shift to the right of; movement up along C) movement down along; movement down along D) shift to the left of; movement down along