If a shift in aggregate demand only affects real Gross Domestic Product (GDP), then the short-run aggregate supply (SRAS) curve must be

Which of the following sets of terms describes the problem of scarcity in economics?

A) goods, land, and needs B) labor, needs, and opportunity costs C) choices, opportunity costs, and trade-offs D) production, consumption, and wants

If an increase in the price of good X causes the demand curve for product Y to shift to the right, then X and Y are most likely to be which of the following?

a. Shoes and laces b. Tennis balls and tennis rackets c. Turkey and chicken d. Knives and forks e. DVD players and DVDs