The Phillips curve reflects
a. the short-run tradeoff between inflation and unemployment
b. short- and long-run tradeoffs between unemployment and inflation
c. the long-run tradeoff between inflation and unemployment
d. the income distribution effects of inflation
e. short-run fluctuations in GDP
A
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Explain how the following will affect the supply curve of coffee
a) A fall in the wages paid to coffee workers b) An increase in the availability of high-yielding coffee plants c) A decrease in the quantity of land under coffee cultivation What will be an ideal response?
An improvement in technology shifts the supply curve rightward
a. True b. False
Payments made to individuals for which goods or services are exchanged are known as ______.
a. co-pays b. deductibles c. transfer payments d. taxes
Which of the following correctly ranks personal consumption, government consumption and investment, and nonresidential investment in order from greatest to least for the U.S. in 2015?
A. Government consumption and investment, nonresidential investment, personal consumption B. Personal consumption, nonresidential investment, government consumption and investment C. Personal consumption, government consumption and investment, nonresidential investment D. Government consumption and investment, personal consumption, nonresidential investment