If the nominal interest rate in an economy is 6% and the inflation rate in the economy is 10%, then the real interest rate is:

Which of the following shifts the short-run but not the long-run aggregate-supply curve left?

a. an increase in the expected price level b. a decrease in the expected price level c. a decrease in how much people want to consume d. an appreciation of the dollar

At an output level above the profit-maximizing level, for a perfectly competitive firm, a reduction in output will:

a. reduce total revenue more than total cost. b. reduce total cost more than total revenue. c. increase total revenue more than total cost. d. increase total cost more than total revenue. e. decrease total revenue and total cost by the same amount.