If the aggregate supply curve is upward sloping and there is an Increase in exports to foreign countries, what will be the resulting change in real gross domestic product (RGDP) and price level in the short run? 12 13 10 Which of the following groups would benefit in the short run from an unanticipated rise m the inflation rate? (A) Retirees on a fixed income (B) Young people repaying fixed-interest-rate student loans (C) Union workers whose contracts do not include a cost-of-living-adjustment (COLA) (D) Homeowners with adjustable mortgage rate loans from banks (E) Financial institutions that have more fixed Interest outstanding loans than adjustable rate loans on their books What must he tme if a nation s economy is operating inside of its production possibilities (A) The nation is utilizing all resources as efficiently as possible (B) The nation currently lacks the resources and technology to operate at a point on the production ptyssibilities curve (C) The nation is using resources and technology ineftieently (D) The nation nurst increase investment spending on capital stock to produce on the (E) The nation s nominal gross domestic product is growing at a faster late than real gross domestic product Which of the following is most likely to improve an economy's productivity? (A) Positive net capital stock investment (B) A decrease in cyclical unemployment (C) An increase in govemment discretionary expenditures (D) An increase in paid maternity leave (E) An increase in the velocity of money (A) (B) (C) (D) (E) RGDP Increase Increase Unch anged Decrease Decrease Price Level Decrease Increase Increase Decrease Increase What will happen to the equilibrium price and equilibrium quantity of a good if there is a simultaneous increase in Input costs while the product is gaining popularity among cons umers9 Equilibrium Equilibrium (A) (B) (C) (D) (E) Price Increase Increase Increase Decrease Decrease uant Increase Indeterminate Decrease Increase Decrease Which ofthe following is tme ofthe short run Phillips curve, but not true for the long run Phillips curve? (A) There is a tradeoff between the unemployment late and the inflation late (B) It is vertical at the natural late of unemployment (C) It is upward sloping (D) There is not a tradeoff between the unemployment late and the inflation late (E) Shifts ofthe curve are the result ofa change in aggregate demand