When the actual inflation rate rises more rapidly than nominal wage rates, we would expect the short-run aggregate supply curve to shift to the right

If the wagerental ratio in Japanese auto production is lower than the wagerental ratio in U.S. auto production, then:

a. Japan must have a comparative advantage in the production of autos. b. Japan must have an absolute advantage in the production of autos. c. auto production costs must be lower in Japan than in the United States. d. auto production costs could be lower in the United States if U.S. labor productivity is higher than Japanese labor productivity.

The above figure shows how many pounds of peanuts farmers are willing to sell at different prices per pound of peanuts. If the price of a pound of peanuts is $1 and the price of a pound of pecans is $2, peanut farmers are willing to sell

A) no peanuts. B) 1000 pounds of peanuts. C) 2000 pounds of peanuts. D) 4000 pounds of peanuts.