Changes in which of the following shift the short-run Phillips curve?
i. changes in the natural unemployment rate
ii. changes in the expected inflation rate
iii. changes in the inflation rate
A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
D
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Rate of return regulation sets the price at a level that enables the regulated firm to earn a specified target percent return on its
A) total cost. B) sales revenue. C) capital. D) variable cost.
Refer to Figure 2-8. If Vidalia chooses to produce 80 dozen roses, how many orchids can it produce to maximize production?
A) 24 dozen orchids B) 48 dozen orchids C) 60 dozen orchids D) 74 dozen orchids
If firms in a competitive market are identical, then the long-run market supply curve will be
A) horizontal. B) upward sloping. C) downward sloping. D) undetermined.
Government purchases are included in national product
a. True b. False Indicate whether the statement is true or false