If the aggregate demand curve shifts rightward, then _____
a. the price level increases and output decreases
b. the resulting increase in the price level is usually called cost-push inflation
c. the resulting increase in the price level is usually called demand-pull inflation
d. the price level increases as long as the aggregate supply curve shifts leftward
e. the price level decreases and output decreases
c
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Wealthy professors are more likely to shop at high end stores with shorter wait times at the cashier than poor students because
a. They value the item more than the student b. They like wasting money c. The opportunity cost of waiting in a cashier line is higher for professors than for undergraduate students d. They like to show off
When a profit-maximizing firm is earning profits, those profits can be identified by
a. P × Q. b. (MC - AVC) × Q. c. (P - ATC) × Q. d. (P - AVC) × Q.