Arbitrage occurs when an entity purchases a good in the lower priced market and sells it at the same time in the highed priced market. The existance of trade costs would ___ opportunites of abitrage

Disposable personal income is equal to personal income minus personal tax payments

Indicate whether the statement is true or false

In the extended analysis of aggregate supply, the short-run aggregate supply curve is:

A. vertical and the long-run aggregate supply curve is horizontal. B. horizontal and the long-run aggregate supply curve is vertical. C. upsloping and the long-run aggregate supply curve is vertical. D. horizontal and the long-run aggregate supply curve is upsloping.