The VMP is the Value of Marginal Product.

The price elasticity of demand for oranges ________ change if the units of the quantity was changed from pounds to kilograms and ________ change if the units of the price was changed from dollars to cents

A) would; would B) would; would not C) would not; would D) would not; would not

A decrease in aggregate supply will cause the price level to:

a. rise and GDP to fall. b. rise and GDP to rise. c. rise and the unemployment rate to fall. d. fall and GDP to rise. e. fall and the unemployment rate to rise.