The part of the balance of payments that records (generally) minor transactions such migrant's transfers, copyrights, and trademarks is the

A permanent negative supply shock leads to ________ inflation ________

A) higher; in both the short and long runs B) higher; in the short run but not in the long run C) lower; in both the short and long runs D) lower; in the short run but not in the long run

An increase in output due to either a positive supply or demand shock to production will lead to ________

A) an increase in the demand for labor and higher real wages B) a decrease in the demand for labor and higher real wages C) an increase in the demand for labor and lower real wages D) a decrease in the demand for labor and lower real wages