At the beginning of the year, your wealth is $10,000. During the year, you have an income of $80,000 and you spend $90,000 on consumption. You pay no taxes. Your wealth at the end of the year is

An increase in the level of prices of goods and services will do what to the long-run aggregate supply curve?

A) not shift the curve at all B) depends upon the long-run aggregate demand curve C) shift it to the right D) shift it to the left

According to this Application, the prices which were tracked in the retail catalogs exemplified the macroeconomic concept of the short run, a period of time in which

A) prices change frequently because of changes in aggregate supply. B) prices don't change very much, implying that the aggregate supply curve is relatively flat. C) prices never change because the aggregate demand curve is vertical. D) price changes are significant because the aggregate supply curve is vertical.