Refer to Table 20-17. Looking at the table above, real average hourly earnings between 2015 and 2016 changed by

The quantity produced in a monopolistically competitive market is ________ than the quantity produced in a perfectly competitive market, and the price charged in a monopolistically competitive market is ________ than the price charged in a perfectly

competitive market. A) higher; higher B) lower; higher C) higher; lower D) lower; lower

In the classical IS—LM/AD—AS model, a beneficial productivity shock would ________ output, ________ the real interest rate, and ________ the price level

A) increase; decrease; increase B) increase; decrease; decrease C) increase; increase; decrease D) decrease; decrease; increase