Which of the following statements is (are) correct? Keynesians criticize the new classical theory because
a. the new classical model cannot explain changes in expectations.
b. of the contracting market characterization of the labor market.
c. the rational expectations assumption ascribes an extreme and unrealistic availability of information to market participants.
d. All of the above
C
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The income effect of a price increase for a Giffen good outweighs the substitution effect
Indicate whether the statement is true or false
Which of the following shifts the short-run aggregate supply curve to the right?
a. an increase in the money supply b. an increase in the price level c. a decrease in the expected price level d. All of the above are correct.
Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. If this farmer produces the profit-maximizing level of soybeans when the market price is $8 per bushel, then her total cost would be
A. $1,200. B. $2,800. C. $5,600. D. $8,400.
Recall the Application. If consumer income in China increased and as a result the demand for pecans decreased, this would indicate that in China, pecans would be considered ________ goods
A) complementary B) normal C) substitute D) inferior