If inflation is underestimated by decision makers in the economy when it is rising, the SRAS curve will tend to be:
a. vertical

A rent ceiling is

A) fair, because it helps all renters. B) fair, because it insures that low-income families can rent apartments. C) fair, because it helps all landlords. D) unfair. E) fair, because it helps more renters than it harms.

Competitive firms can earn positive profits in the

a. Long run only b. Long run and the short run c. Short run only d. All of the above