In year 2000 dollars, per pupil expenditures on education in the United States in 1940 was around _____

Pure inflation occurs when

A) nominal wages rise faster than all prices. B) all prices rise faster than nominal wages. C) all prices and nominal wages rise by the same percentage. D) the GDP deflator and Consumer Price Index rise by the same percentage. E) none of the above

In the aggregate expenditures model, if an economy operates above equilibrium GDP, there will be:

a. unplanned inventory accumulation. b. unplanned inventory depletion. c. an increase in GDP. d. an increase in employment.