If M increases and V decreases:
a. nominal GDP increases

Agriculture is the primary occupation in Agraria and agricultural products account for two-thirds of Agraria's gross domestic product

How will a sharp fall in the price of agricultural products affect Agraria's economy if the demand for such products is price-inelastic?

In a long-run equilibrium in a perfectly competitive market, the average firm earns positive economic profits

a. True b. False Indicate whether the statement is true or false