A monetary policy that results in price stability will encourage the realization of gains from trade and thereby help promote economic growth.
a. true
b. false
a. true
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In the figure above, the shift from the short-run Phillips curve SRPC0 and the long-run Phillips curve LRPC0 to the short-run Phillips curve SRPC2 and the long-run Phillips curve LRPC2 is the result of ________ in the expected inflation rate and
________ in the natural unemployment rate. A) a decrease; a decrease B) an increase; an increase C) no change; a decrease D) an increase; no change E) a decrease; an increase
If the number of unemployed workers is 200 million, the number of employed workers is 300 million, and the working-age population is 800 million, what is the labor force participation rate?
A) 12.5% B) 37.5% C) 40% D) 62.5%
Refer to the table below. If these are the only four price options for a pound of sugar, what is the expected value the price of a pound of sugar?
The above table provides the possible prices for a pound of sugar next year along with the associated probabilities (in percent).
A) $1.27
B) $1.25
C) $1.30
D) $1.32
The general term for market structures that fall somewhere between monopoly and perfect competition is
a. incomplete markets. b. imperfectly competitive markets. c. oligopoly markets. d. monopolistically competitive markets.