The slope of the aggregate demand curve indicates that ________ in the inflation rate leads to ________ of real GDP demanded by households and firms

In the long run, if inflation is higher in India than in the U.S., one would expect

A. the dollar to depreciate relative to the rupee B. the rupee to depreciate relative to the dollar C. the rupee to appreciate relative to the dollar D. two of the above are correct

As a result of legislation to establish a floor price for milk, most dairy farmers will

a. end up earning a normal rate of return in the long run b. end up earning a zero rate of return in the long run c. end up earning a negative rate of return in the long run d. benefit from the increased cost of specialized resources used in dairy farming e. suffer if they own specialized resources at the time the legislation is passed