The application of new technology refers to
a. imitation.
b. investment.
c. innovation.
d. education.
c
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If wages instantaneously adjust to reflect expected inflation that is based on an anticipated increase in the money supply,
A) the aggregate demand and positively sloped aggregate supply curve shift to the right at the same time. B) the positively sloping aggregate supply curve shifts to the left after the aggregate demand curve shifts to the right. C) the positively sloping aggregate supply curve shifts to the left before the aggregate demand curve shifts to the right. D) the positively sloping aggregate supply curve does not shift to the right at the same time as the aggregate demand curve shifts to the left.
Kelly is willing to pay $5.20 for a gallon of gasoline. The price of gasoline at her local gas station is $3.80 . If she purchases ten gallons of gasoline, then Kelly's consumer surplus is
a. $1.40. b. $14. c. $3.80. d. $52.