In a long-run equilibrium in a perfectly competitive market, the average firm earns positive economic profits

Assume a fixed demand for money curve and the Fed increases the money supply. The result is a temporary:

a. excess quantity of money demanded. b. excess quantity of money supplied. c. new equilibrium interest rate. d. decrease in the demand for loans.

Which of the following are true about functions in the duality picture:

A. Compensated demand functions are homogeneous of degree zero in prices. B. Uncompensated demand functions are homogeneous of degree zero. C. Expenditure functions are homogeneous of degree zero. D. Both (a) and (b). E. Both (b) and (c). F. Both (a) and (c). G. All of the above. H. None of the above.