On the long-run Phillips curve, the unemployment rate
A) equals the natural unemployment rate, but the inflation rate can be any value.
B) decreases when the inflation rate increases.
C) equals the natural unemployment rate, and the inflation rate equals the expected inflation rate.
D) can be any value, but the inflation rate equals the expected inflation rate.
E) and inflation rate can take any value.
A
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In the saving function, autonomous saving is
A) -a + (1 - c)(Y - T). B) (1 - c)Y. C) -a. D) -Y - T.
The best example of an economic goal of a firm is
A) providing good products/services to its customers. B) improving its public image. C) increasing employee morale. D) increasing shareholder wealth.
Privatization requires
a. transparency b. the training of competent managers c. the installation of adequate facilities for transportation d. All of the answers are correct e. None of the answers is correct
Martin is not employed. The value Martin places on his leisure time is $30 an hour. Martin looks for a job and all the offers he has are for less than $30 an hour. Martin should supply
A. between 20 and 40 hours per week in the labor market. B. 0 hours in the labor market. C. exactly 40 hours per week in the labor market. D. between 0 and 20 hours per week in the labor market.