When the U.S. price level rises relative to other nations' price levels, then
A) U.S. exports decrease, U.S. imports increase, and the aggregate demand curve shifts rightward.
B) U.S. exports decrease, U.S. imports increase, and there is a movement upward along the aggregate demand curve.
C) U.S. exports increase and the aggregate demand curve shifts rightward.
D) U.S. exports decrease, U.S. imports increase, and the aggregate demand curve shifts leftward.
E) U.S. firms' profits increase and the aggregate demand curve shifts rightward.
B
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Moving along the AS curve, when the price level increases, the
A) nominal wage rate falls, and there is an increase in the quantity of real GDP supplied. B) real wage rate rises, and there is an increase in the quantity of real GDP supplied. C) nominal wage rate rises, and there is a decrease in the quantity of real GDP supplied. D) real wage rate falls, and there is an increase in the quantity of real GDP supplied. E) real wage rate rises, and there is a decrease in the quantity of real GDP supplied.
The figure above shows the marginal social cost curve of generating electricity and the marginal private cost curve. The marginal cost borne by producers when 200 billion kilowatt hours are produced is
A) 0¢ per kilowatt. B) 10¢ per kilowatt. C) 20¢ per kilowatt. D) 15¢ per kilowatt. E) 5¢ per kilowatt.