When one company is the sole seller of certain products in a market, it is called a

A relatively steep aggregate demand curve indicates that

A) velocity is relatively constant. B) the economy is near full employment. C) inflation is relatively high. D) spending is insensitive to changes in the price level.

In the short run, an increase in the money stock growth rate

a. moves the economy up the short-run Phillips curve. b. moves the economy down the short-run Phillips curve. c. shifts the short-run Phillips curve to the right. d. results in a decline in the natural rate of unemployment and a rise in the inflation rate. e. both b and d are correct.