If aggregate demand and aggregate supply both shift right, we can be sure that the price level is higher in the short run

If price discrimination occurs in a market

A) consumers whose demand for the product sold is more elastic pay higher prices than consumers whose demand is less elastic. B) the firm earns arbitrage profits. C) the marginal cost of production is constant. D) the law of one price does not hold.

The price of domestic goods in terms of foreign goods is referred to as

A) the nominal exchange rate. B) the relative inflation rate. C) the real exchange rate. D) the current account balance.