If there was no profit effect, but there was a misperception effect in the short run, then SRAS is ____ and LRAS is ____

The elasticity of demand is constant along a downward sloping straight-line demand curve

Indicate whether the statement is true or false

In the study of labor supply, "leisure" refers to

a. time spent sleeping. b. time spent doing absolutely nothing (except breathing). c. time spent in one's place of residence. d. time spent that is not spent in market work.