Over the past year, productivity grew 1%, capital grew 2%, and labor grew 2%. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, how much did output grow?

The short-run aggregate supply curve would shift and the long-run aggregate supply curve would remain fixed if

A) there was a temporary shock that influenced the supply side. B) there was a permanent increase in aggregate demand along with a permanent decrease in aggregate supply. C) there was a permanent increase in aggregate demand. D) there was a temporary shock to aggregate demand.

Everything else held constant, an increase in the time deposit ratio will mean ________ in the M2 money multiplier and ________ in the M2 money supply

A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease