The relationship between output and employment is known as
A. the Beveridge curve.
B. the Phillips curve.
C. the Diamond paradox.
D. Okun's Law.
Answer: D
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The women's dress industry is monopolistically competitive because each firm has
A) a large market share. B) a very small market share. C) no market share. D) no competition for their market share. E) struck a deal with the many other firms about what price will be charged.
An advantage of the personal consumption expenditures price index (PCE) over the Consumer Price Index (CPI) as a measure of inflation is that the PCE
A) is a fixed market-basket price index that does not allow the mix of products to change each year. B) includes the prices of consumer services, but not consumer goods. C) includes the prices of more consumer goods and services. D) includes the prices of consumer goods, but not consumer services.
Unpaid stay-at-home fathers are included in the Bureau of Labor Statistics' "unemployed" category
a. True b. False Indicate whether the statement is true or false
An inferior good is a good
A. that consumers purchase more when their incomes are higher. B. of high quality. C. that has low quality. D. that consumers purchase less of when their incomes are higher.