If nominal GDP is $8 trillion, and the money supply is $2 trillion, velocity is

If two goods are substitutes, then

A) an increase in the price of one causes the demand for the other to fall. B) there is an inverse relationship between changes in the price of one good and changes in the demand for the other. C) if the price of one good falls, the demand for the other good falls also. D) changes in the quantity demanded of one good will not affect the demand for the other.

The most important characteristic that differentiates one market structure from another is the

a. time it takes for new firms to enter b. amount of short-run economic profit c. degree to which goods complement each other d. number of producers selling in the market e. barriers to entry