Disinflation can be explained by the Phillips Curve analysis as resulting from a situation where the actual rate of inflation is initially less than the expected rate, causing the unemployment rate to:
A. Rise temporarily, but consequent decreases in nominal wages will eventually bring the actual and expected rates of inflation into balance
B. Rise temporarily, but consequent increases in nominal wages will eventually bring the actual and expected rates of inflation into balance
C. Fall temporarily, but consequent increases in nominal wages will eventually bring the actual and expected rates of inflation into balance
D. Fall temporarily, but consequent decreases in nominal wages will eventually bring the actual and expected rates of inflation into balance
A. Rise temporarily, but consequent decreases in nominal wages will eventually bring the actual and expected rates of inflation into balance
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A) an intermediate good. B) a financial asset. C) a used good. D) a final product.
Refer to Table 2-9. What is Japan's opportunity cost of producing one pound of rice?
A) 0.04 units of a wristwatch B) 4 wristwatches C) 25 wristwatches D) 40 wristwatches
What does GGD stand for?
(a) Government's Great Deeds. (b) General Government Deficit. (c) General Government Debt. (d) General Government Defence.
When 5 units of labor are employed, total product is 9 units; when 6 units of labor are employed, total product is 11 units of output. If the price of output is $5 per unit, what is the marginal revenue product of the 6th unit of labor?
A) $10 B) $5 C) $15 D) $55