In the long run, inflation is caused by

________ increases with education, training, and job experience. i. Physical capital ii. Human capital iii. Financial capital

A) i only B) ii only C) iii only D) Both ii and iii E) i, ii, and iii

Given a supply curve that is positively sloped and a demand curve for a normal good that is negatively sloped, an increase in income will most likely result in:

A) an increase in price and quantity. B) a decrease in price and an increase in quantity. C) a decrease in both price and quantity. D) an increase in price and a decrease in quantity.