If the Phillips curve represents a "structural relationship," then
A) the Phillips curve will be vertical in the long run.
B) the trade-off between unemployment and inflation is permanent.
C) the trade-off between unemployment and inflation holds only for the short run.
D) the trade-off between unemployment and inflation holds in the long run, but not in the short run.
B
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Globalization can be defined as:
a. the attitude or policy of placing the interests of the entire world above those of individual nations. b. viewing the entire world as a proper sphere for one nation to project political influence. c. a period in history that has witnessed a dramatic change in world political thought and the balance of power. d. an increased cross-border flow of trade in goods, services, and financial assets, along with an increased international mobility of technology, information, and individuals. e. a social movement that supports global cooperation and interaction, but which opposes the negative effects of economic development across nations.
When a country suffers from capital flight, the demand for loanable funds in that country shifts
a. right, which increases interest rates in that country. b. right, which decreases interest rates in that country. c. left, which increases interest rates in that country. d. left, which decreases interest rates in that country.
Scientific investigations that have no immediately obvious commercial applications are called
A. nonessential research. B. basic research. C. applied research. D. diffused research.
A monopolist’s profit per unit is shown by the difference between price and marginal cost per unit.
Answer the following statement true (T) or false (F)