The short-run Phillips curve shifts when there is a change in
a. technology
b. money demand.
c. the expected price level.
d. the labor force.
e. all of the above.
E
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In Figure 4-4 above, if the interest rate falls from 10% to 7.5% and this causes businesses to become more optimistic about future investment conditions, we would observe that planned investment would
A) decrease from B to C to D. B) increase from B to C to D. C) increase from B to C to F. D) decrease from B to C to F.
In a barter economy that had no form of currency, how could interest exist?
Which of the following situations is used as a justification for government?
A) negative externalities B) removal from the prisoner's dilemma C) nonexcludable goods D) positive externalities E) all of the above
If the economy is experiencing an inflationary GDP gap, ___ monetary policy might be used to ____ aggregate demand and ____ the overall price level.
A. expansionary; decrease; decrease B. expansionary; increase; decrease C. contractionary; decrease; decrease D. contractionary; decrease; increase