If the Fed wants to move the economy down and to the right along the Phillips curve, what must it do?
a. Increase the rate at which the aggregate supply curve shifts upward
b. Decrease the rate at which the aggregate demand curve shifts rightward
c. Increase the rate at which the aggregate demand curve shifts rightward
d. Increase the rate at which the aggregate demand curve shifts leftward
e. Decrease the rate at which the aggregate supply curve shifts upward
B
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If the cross-price elasticity of demand between two goods is -1.2, then the two goods are:
A. substitutes. B. complements. C. inferior. D. elastically demanded.
The selling of a good or service abroad at a price below what is charged in the home market or below the cost of production is referred to as
A) recycling. B) a quota. C) dumping. D) a tariff.
Which of the following would be most likely to have monopoly power?
a. an online bookstore b. a municipal water company c. a local restaurant d. a grocery store
The national debt includes ______.
a. the debt of state governments b. projected Social Security costs c. the value of all outstanding bonds d. debt the government owes itself