The short-run effects of an increase in the expected price level include a. a lower level of output and a lower price level. b. a lower level of output and a higher price level. c. a higher level of output and a lower price level. d. a higher level of output and a higher price level.

Who is not spending wisely? erika goes shopping and saves her receipts. she totals how much she spent and writes it down. mia needs to buy a new pair of shoes because she joined the soccer team. she looks at newspaper ads to find the best price. lauren has been thinking about getting a puppy for a long time. she walks by the pet store at the mall and decides to get a puppy. erin makes a purchase online using a credit card. she knows that she can pay the entire bill when it arrives.