The short-run aggregate supply curve shows that inflation will change as a result of changes in ________

Each point on the demand curve indicates

a. the demand for the product. b. the quantity demanded at that price. c. the amount that people need. d. the amount people want to buy at different income levels.

An economist left her $100,000-a-year teaching position to work fulltime in her own consulting business. In the first year, she had total revenue of $200,000 and business expenses of $150,000 . She made a (an):

a. economic profit. b. accounting loss but not an economic loss. c. implicit profit. d. economic loss.