You are given the following information about the economy: the nominal interest rate = 8%; the real rate of interest = 6%. The inflation premium is

In the long run, a perfectly competitive firm will

A) be able to make an economic profit. B) produce but incur an economic loss. C) make zero economic profit. D) not produce and will incur an economic loss equal to its total fixed cost. E) not produce but not incur an economic loss.

Credit cards, debit cards, and e-checks are

A) always counted as money. B) not money. C) sometimes counted as money, depending on how they are used. D) sometimes counted as money, depending on what is purchased. E) sometimes counted as money, depending on what measure of money is being used.