Which of the following will be required for a country to move up the income ladder and achieve high-income status?

In the above figure, if aggregate demand does not change, the long-run equilibrium will be at the price level of ________ and real GDP of ________

A) 100; $15.5 trillion B) 120; $16 trillion C) 100; $16 trillion D) 110; $15.5 trillion

If the price elasticity of demand for apples is greater than 1, an increase in apple prices will

A) raise total revenue. B) lower total revenue. C) not affect total revenue. D) either raise or lower total revenue, but it is impossible to determine which.