The long-run Phillips curve would shift to the right if
a. the money supply growth rate decreased or if labor markets become more flexible.
b. the money supply growth rate decreased, but not if labor markets become more flexible.
c. labor markets become more flexible, but not if the money supply growth rate decreased.
d. None of the above is correct.
d
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A new cattle feed has been found to increase the amount of milk each cow produces. Which of these is a likely impact in the market for milk, if this cattle feed is used by most of the dairies?
a. A rightward shift of the supply curve for milk b. An increase in the demand for milk c. A decrease in the quantity demanded of milk d. A leftward shift of the supply curve for milk e. An increase in the price of milk
As a result of trade between two countries which are of completely different economic sizes, specialization in the Ricardian 2X2 model tends to
A) be incomplete in both countries. B) be complete in both countries. C) be complete in the small country but incomplete in the large country. D) be complete in the large country but incomplete in the small country. E) sustain one countries economy in in direct proportion to the other.
Which of the following is NOT a key component of every game?
A) Strategies B) Players C) Payoffs D) Cooperation
Specific business practices such as price discrimination are prohibited by the:
A. Clayton Act of 1914. B. Sherman Act of 1890. C. Federal Trade Commission Act of 1914.