Which of the following does NOT involve transfers in kind?

Figure 4.5 illustrates a set of supply and demand curves for hamburgers. A decrease in demand and a decrease in quantity supplied are represented by a movement from

A) point a to point c. B) point d to point b. C) point b to point c. D) point c to point a.

A supply shock that reduces labor productivity

A) causes accelerating inflation if the Fed attempts to maintain the original output level. B) will increase real wages if nominal wages are flexible. C) will reduce the level of output at the natural level of real GDP even if employment does not decline. D) A and C.