In the market for money, an interest rate below equilibrium results in an excess ________ money and the interest rate will ________

Borrowers who took out mortgages in the 1960s:

A. were harmed by the unexpected low inflation rates of the 1970s. B. benefited from the unexpectedly high inflation rates of the 1970s. C. were harmed by the unexpectedly high inflation rates of the 1970s. D. benefited from the unexpected low inflation rates of the 1970s.

A short-run cost function assumes that

A. all inputs are fixed in supply. B. at least one input is fixed in supply. C. the level of output is fixed. D. both a and b  E. both b and c