The long-run aggregate supply curve is vertical, and the short-run aggregate supply curve is upward sloping

The aggregate production function of Ritland is Y = A × K0.3 × H0.7. The total output produced in Ritland in a certain year was worth $135,000

The technology used in the country improved over the next 10 years while the capital stock and the efficiency units of labor remained approximately the same. Which of the following is likely to be true in this case? A) The Human Development Index of the country is likely to improve. B) The gross domestic product of the country is likely to increase. C) The gross domestic product of the country is likely to decrease. D) The inflation rate in the country is likely to reduce.

Bonds sales to finance World War II (1941–45)

(a) helped finance the government's current budget deficits. (b) helped finance, manage and eventually pay down the private debts accumulated during World War I (1914–18). (c) were loans the U.S. government made to individuals in its private sector. (d) led to higher interest rates and decreased private spending and investment.