According to A.W. Phillips, an inverse relationship has existed between
A) the inflation rate and unemployment rate.
B) the inflation rate and the money supply.
C) unemployment and interest rates.
D) the rate of growth of the money supply and the unemployment rate.
A
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According to published data pertaining to unemployment rates in selected European countries, the natural rate of unemployment
a. has been rising over the past three decades. b. declined sharply over the last three decades. c. has been lower than in the U.S. in the 1990s. d. has not changed much over the past three decades. e. Both a and c
Privatization requires
a. transparency b. the training of competent managers c. the installation of adequate facilities for transportation d. All of the answers are correct e. None of the answers is correct
An inferior good is:
a. any good of low quality. b. one that consumers buy less of at a higher price. c. one that consumers buy less of as their income rises. d. one that has few substitutes. e. any good made with inexpensive labor.
Why is the personal income tax considered to be one of the main features of our modern economy that helps ensure against a repeat performance of the Great Depression?