The long-run aggregate supply curve is upward sloping

The portion of the long-run average cost curve in which economies of scale are experienced shows that as output increases, the

A) average total cost decreases. B) average total cost increases. C) marginal cost increases. D) marginal cost decreases. E) average variable cost is constant and the average fixed cost decreases.

Nominal interest rates tend to be higher in countries with

A) higher rates of inflation. B) lower rates of inflation. C) lower real interest rates. D) Both B and C.