Which one of the following would not shift the aggregate demand curve?
a. an increase in personal income tax rates
b. a decline in the interest rate at each possible price level
c. depreciation of the international value of the dollar
d. a change in the price level

Schuepfer inc. bases its selling and administrative expense budget on budgeted unit sales. the sales budget shows 1,800 units are planned to be sold in march. the variable selling and administrative expense is $4.30 per unit. the budgeted fixed selling and administrative expense is $35,620 per month, which includes depreciation of $2,700 per month. the remainder of the fixed selling and administrative expense represents current cash flows. the cash disbursements for selling and administrative expenses on the march selling and administrative expense budget should be: