Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward
B. Short-run aggregate supply shifting upward
C. Short-run aggregate supply shifting downward
D. Aggregate demand shifting leftward
Answer: B
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A grocery shopper considers "eliminating" the middleman. What might she do?
A) Raise her own cows, slaughter them, and butcher her own meat. B) Grow her own wheat, mill it into flour, and bake her own bread. C) Build her own fishing boat and begin halibut fishing. D) All of the above.
GDP is adjusted to reflect changes in the quality of the environment such as changes in air and water quality
a. True b. False Indicate whether the statement is true or false
The CPI does not reflect the increase in the value of the dollar that arises from the introduction of new goods
a. True b. False Indicate whether the statement is true or false
PlayStations and PlayStation games are complementary goods. A technological advance in the production of PlayStations will
a. increase consumer surplus in the market for PlayStations and decrease producer surplus in the market for PlayStation games. b. increase consumer surplus in the market for PlayStations and increase producer surplus in the market for PlayStation games. c. decrease consumer surplus in the market for PlayStations and increase producer surplus in the market for PlayStation games. d. decrease consumer surplus in the market for PlayStations and decrease producer surplus in the market for PlayStation games.