One would expect a shift down in the Phillips curve if there was a(n)
a. a decrease in aggregate demand.
b. decrease in government spending.
c. decrease in the money supply.
d. a shift in aggregate supply to the left.
e. Any of the above
D
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Price ceilings frequently lead to
A. an accumulation of surpluses. B. an increase in the number of units purchased, moving along the demand curve. C. increased production, since producers respond to increased consumer demand at the low ceiling price. D. result in the development of black markets.
Diversification is most effective in reducing:
A) market risk B) systemic risk C) idiosyncratic risk D) all forms of risk
When comparisons are made between the earnings of whites and minorities with the same age, quantity of schooling, marital status, sector of employment, union and industry status, regional location, and annual hours worked, recent studies indicate that
a. the corrected earnings of minority men are about two-thirds the earnings of white men. b. the corrected earnings of Mexican-Americans, Asian-Americans, and American Indians were between 7 and 9 percent less than the earnings of similar white men. c. earnings differentials between whites and minorities are due almost exclusively to employment discrimination. d. most minority men now have higher earnings than white men.
Refer to Exhibit 2-7. Which of the following statements is true?
A. If the economy's PPF is represented by PPF1, points A and B are productive efficient, while C and D are unattainable. B. Point F is more efficient than point D. C. Points B and D are more efficient than points A and C. D. If the economy's PPF is represented by PPF2, points C and D are productive efficient, while A and B are unattainable.