In a capitalist system, the decisions and actions of millions of consumers and firms are highly coordinated by:

Last year the price level increased from 118 to 122. The increase in the price level leads to a decrease in

A) potential GDP. B) the money wage rate. C) the buying power of money. D) the real interest rate. E) the price of domestic goods and services relative to foreign goods and services.

In the figure above, which movement could be the result of the development of a new, more efficient refining technology?

A) point a to point e B) point a to point b C) point a to point c D) point a to point d