The steeper the slope of the aggregate supply curve in the long run indicates that an increase in aggregate demand will cause an increase in the price level and an even greater increase in output in the long run

If a technological advance makes it possible to produce computers at a lower cost

A) the demand for computers decreases. B) the demand for computers increases. C) the supply of computers increases. D) the supply of computers decreases.

The monetary base will increase if

A) currency outstanding decreases. B) loans by the Fed to commercial banks decrease. C) bank reserves increase. D) vault cash in banks increases.