The Phillips Curve is:
a. A theoretical relationship between inflation and the real risk-free interest rate.
b. A statistical relationship between a nation's current account and its inflation rate.
c. A statistical, historical relationship between inflation and unemployment.
d. A theoretical relationship between inflation and unemployment.
e. A curve showing Phillips-head screwdriver sales in various countries during the 1960s.
.C
You might also like to view...
To close a recessionary gap, the Federal Reserve must ________ real interest rates by ________ the money supply.
A. increase; decreasing B. decrease; increasing C. increase; increasing D. decrease; decreasing
Suppose when Nablom's Bakery raised the price of its breads by 10 percent, the quantity demanded fell by 15 percent. What was the effect on sales revenue?
A) Sales revenue increased. B) Sales revenue decreased. C) Sales revenue remained unchanged. D) It cannot be determined without information on prices.
Which one of the following is NOT a characteristic of public goods?
A) They are indivisible. B) It is difficult to charge people on the basis of how much they use. C) Public goods can be used by increasing numbers of people at no additional cost. D) Public goods are subject to the principle of rival consumption.
The market price of output affects
a. the supply of the resources used to produce it b. the demand for the resources used to produce it c. the marginal product of the resources used to produce it d. the marginal resource cost of the resources used to produce it e. the total cost of the resources used to produce it