In the above figure, the lowest price for which the firm will sell its second ton of wheat is

Assume equilibrium real GDP per year is equal to full-employment real GDP. If aggregate demand falls, then

A) the price level will increase in the short run and decrease in the long run. B) long-run aggregate supply will eventually decrease too. C) there will be an expansionary ga

When the nominal price of a good increases over time, the real cost of buying the good

A) must increase. B) decreases because income also increases over time. C) does not change because income also increases over time. D) might increase, decrease, or stay the same depending on how much the CPI changed. E) might increase, decrease, or stay the same depending on how much income changed.