If resource prices are flexible, the long-run aggregate supply ...

[formula1]

If resource prices are flexible, the long-run aggregate supply curve is vertical.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

A rising rate of inflation:
 a. makes people more willing to hold money as an asset.
 b. reduces the usefulness of money as a store of value and thus increases the velocity of money.
 c. increases the usefulness of money as a medium of exchange and thus reduces the velocity of money.
  d. is usually preceded by a reduction in the money supply.
 e. does not have any effect on the velocity of money.

[SVictor]

Answer to Question 1

True

Answer to Question 2

b

[formula1]

TYSM

[vickyvicksss]

Thanks for the timely response, appreciate it