The proposition of monetary neutrality states that changes in the money supply have:
A) no impact on output in the short run
B) no impact on output in the long run
C) no impact on the price level in the short run
D) no impact on the price level in the long run
B
Economics
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Economics
In the long-run equilibrium of a market with free entry and exit, if all firms have the same cost structure, then
a. marginal cost exceeds average total cost. b. the price of the good exceeds average total cost. c. average total cost exceeds the price of the good. d. firms are operating at their efficient scale.
Economics