Payments that a firm makes to obtain needed resources comprise its:

Refer to Figure 4.8. If 30 of your friends go to the park and 70 go to the beach,

A) your friends at the beach should switch to the park. B) your friends at the park should switch to the beach. C) your friends at the beach should switch to the park and your friends at the park should switch to the beach. D) your friends should stay where they are.

In the long-run, an increase in aggregate demand increases the price level, but not real GDP

a. True b. False Indicate whether the statement is true or false