If housing prices are expected to increase, then, other things equal, the demand for houses will ________ and that of Treasury bills will ________

If the price of the Brazilian real is 60 cents and a U.S. resident purchases a Brazilian-manufactured item for 60,000 real, there will be

A) a quantity demanded of 60,000 real and a quantity supplied of $60,000. B) a quantity demanded of 60,000 real and a quantity supplied of $36,000. C) a quantity demanded of 60,000 real, but we cannot determine the effect in the market for dollars. D) a quantity supplied of 60,000 real and a quantity demanded of 60,000 yen.

If a firm is earning short-run economic profits shown in the above figure, in the long run

A) firms exit the industry, the market supply curve shifts rightward, and the market price falls. B) firms enter the industry, the market supply curve shifts rightward, and the market price falls. C) firms exit the industry, the market supply curve shifts leftward, and the market price falls. D) firms enter the industry, the market supply curve shifts rightward, and the market price rises.