Using the quantity equation, the demand for money can be expressed as

In response to the demands of environmentalists, large sections of timberlands are put off limits to logging. What effect will this have on the aggregate supply curve?

A. Shift the curve outward. B. Shift the curve inward. C. Move the economy up along the curve. D. Move the economy down along the curve.

In a perfectly competitive market

A. if a firm raises its price, it will lose some, but not all, of its customers. B. when a firm sells another unit of output, the addition to total revenue is equal to market price. C. a firm faces a perfectly elastic demand because there is unrestricted entry and exit. D. all of the above E. none of the above