Alfonse is a farmer who grows 20,000 bushels of corn each year. Last year, the market price was $3 per bushel. If Alfonse earned $80,000 . the government's target price per bushel must have been

During a deflationary period,

A) the price level rises. B) the nominal interest rate does not change. C) the nominal interest rate is less than the real interest rate. D) the real interest rate is less than the nominal interest rate.

Tacit collusion among firms does not involve explicit agreements on pricing and output levels

a. True b. False