The best measure of the standard of living is

While much of New Classical macroeconomics is being refuted by the evidence, at least one part of it may be a permanent legacy to all economists. It is the insistence on a certain aspect of macroeconomic policy:

A) It has as much impact on SAS as on AD. B) It has its impact on nominal and not real variables. C) People will try to anticipate it and then act accordingly. D) It has no impact on SAS or AD, but does affect LAS.

From 1970 to 2010, the real price of a college education increased, and total enrollment increased. Which of the following could have caused this increase in price and enrollment?

A) A shift to the right in the supply curve for college education and a shift to the left in the demand curve for college education. B) A shift to the left in the supply curve for college education and a shift to the right in the demand curve for college education. C) A shift to the left in the supply curve for college education and a shift to the left in the demand curve for college education. D) none of the above