Refer to the graph below. Assume that the economy is in initial equilibrium where AD1 intersects AS1. If there is a decrease in aggregate demand to AD2, then according to mainstream economists, if prices are flexible and wages are not, this will result in an equilibrium at point:

The above figure shows Katie's consumption possibilities. The relative price of a restaurant meal is

A) 1 movie ticket. B) 0.25 movie tickets. C) 4 movie tickets. D) 2 movie tickets.

Increasing productivity in a society

a. always results in a better quality of life as society views it. b. can never make a nation poorer. c. guarantees that personal services will cost less. d. makes improved personal services available to everyone.