A decrease in the price level will:
a. increase the quantity of RGDP supplied, but not increase short-run aggregate supply.
b. decrease the quantity of RGDP supplied, but not decrease short-run aggregate supply.
c. increase short-run aggregate supply

The rate of unemployment is calculated as the number of

A) people in the civilian labor force divided by the number of unemployed. B) employed workers divided by the number of unemployed workers. C) unemployed divided by the number of people in the civilian labor force. D) unemployed workers divided by the number of employed workers.

Which of the following most accurately describes what occurs during a time of inflation?

A) People must work longer to live as well. B) Prices rise faster than incomes. C) The average standard of living declines. D) The cost of living increases. E) The purchasing power of money falls.