Refer to the scenario above. If Rebecca wins the auction, she will earn a surplus of ________

According to the law of supply, producers will

A) change their consumption plans when the price of a good changes. B) change their supply when the price of a good changes. C) change their production plans when the price of a good changes. D) increase their quantity supplied when the price of a good decreases. E) decrease their quantity supplied when the price of a good increases.

If the money supply increases, the LM schedule will experience

A) rightward movement along the curve. B) leftward movement along the curve. C) a shift to the left. D) a shift to the right.