Refer to the figure above. What is the total surplus after Barylia opens up to free trade?

Contractionary monetary policy will result in

A) higher interest rates. B) increased rates of inflation. C) a leftward shift in the long-run Phillips curve. D) an upward shift in the short-run Phillips curve.

If both supply and demand for a good increase, which of the following will definitely happen?

a. Equilibrium price will remain the same b. Equilibrium price will increase c. Equilibrium price will decrease d. Equilibrium quantity will increase e. Equilibrium quantity will decrease