Question

Cost of a market basket for consumers in 2010 is $2600 and in 2011 is $2700....

Cost of a market basket for consumers in 2010 is $2600 and in 2011 is $2700. Using 2010 as the base year, calculate the inflation in 2011. Group of answer choices -4%

4%

0.04%

40%

2-

Consider classical long-run model. After invention of the wheel, what happened to the aggregate production function and labor market all around the world, thousands years ago?

Group of answer choices

function shifted up, labor market unchanged

function shifted down, labor market unchanged

movement along the function, supply curve increased

function unchanged, demand decreased

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