Refer to the information provided in Figure 5.4 below to answer the question(s) that follow. Figure 5.4Refer to Figure 5.4. The demand for milkshakes is unit elastic at Point C. If the milkshake price falls from P1 to P2, total revenue will

In 1979, the price of gasoline was $1.389 per gallon and the CPI was 72.6. In 2003, the price of gasoline was $1.589 per gallon and the CPI was 182.9. Find the real price of gasoline in 1979 and 2003 in terms of base period dollars

What will be an ideal response?

The Phillips curve shifts because

A) fiscal policy changes over time. B) of total factor productivity shocks. C) of economic development. D) none of the above.