In the long run, when an economy experiences inflation, the price level ________ and the nominal interest rate ________

Consumers regard Dell computers and Apple computers as substitutes. If the price of a Dell computer decreases, the

A) demand for Dell computers increases. B) demand for Apple computers increases. C) demand for Apple computers decreases. D) supply of Dell computers increases. E) demand for Dell computers decreases.

When the production of a good creates an external cost, by setting the tax rate equal to the ________, firms can be made to behave in the same way as they would if they bore the cost of the externality directly

A) marginal external cost B) marginal social benefit C) marginal private benefit D) marginal social cost