If wages instantaneously adjust to reflect expected inflation that is based on an anticipated increase in the money supply,
A) the aggregate demand and positively sloped aggregate supply curve shift to the right at the same time.
B) the positively sloping aggregate supply curve shifts to the left after the aggregate demand curve shifts to the right.
C) the positively sloping aggregate supply curve shifts to the left before the aggregate demand curve shifts to the right.
D) the positively sloping aggregate supply curve does not shift to the right at the same time as the aggregate demand curve shifts to the left.
A
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If the poverty line for a family of 4 is $16,000, then the poverty line for a family of two is likely to be
A. less than $8,000. B. greater than $16,000. C. less than $16,000 but greater than $8,000. D. exactly $8,000.
A relative price is:
A. the price of a specific good in comparison to the prices of other goods and services. B. the percentage change in a price index such as the CPI. C. the rate of inflation. D. a measure of overall prices at a particular point in time.