Which of the following will shift the Keynesian short-run aggregate supply curve downward and to the right?
A) a rise in the price level
B) a fall in the price level
C) a decrease in input costs
D) an increase in input costs
C
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A Wisconsin farmer sells her crops in a competitive price-taker market. If she produces 500 bushels for total revenue of $2,500 and if harvesting the 501st bushel would raise her total cost from $2,500 to $2,505, her
a. revenue will increase by $10 if she harvests the 501st bushel b. revenue will fall by $5 if she harvests the 501st bushel c. average fixed cost will rise if she harvests the 501st bushel d. profit will fall by $10 if she harvests the 501st bushel e. profit will remain unchanged if she harvests the 501st bushel
For an imaginary economy, the value of the consumer price index was 140 in 2013 and 146.5 in 2014 . The economy's inflation rate for 2014 was
a. 4.6 percent. b. 6.5 percent. c. 4.4 percent. d. 46.5 percent.