Stagflation's demise during the 1980s resulted in a:
A. Movement along the Phillips Curve toward less unemployment
B. Movement along the Phillips Curve toward more inflation
C. Shift in the Phillips Curve to the left
D. Shift in the Phillips Curve to the right
C. Shift in the Phillips Curve to the left
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Suppose Sarah owns a small company that makes wedding cakes. The table below shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number ofCakes Per DayTotal CostPer Day0$1001$1802$2203$3004$4005$5206$660If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $125 each, then at her profit-maximizing level of output, Sarah's profit will be ________ per day.
A. $90 B. $625 C. $105 D. $100
Explain what would happen to the equilibrium price and quantity of gasoline if the supply of gasoline decreased while the demand for gasoline also decreased
What will be an ideal response?
The transformation of a Lorenz curve into a numerical value is
a. the value of the diagonal minus the value of the two sides of the right angle triangle b. the sum of the percentages of income for all groups c. the Lorenz coefficient d. the Gini coefficient e. the value of the midpoint on the Lorenz curve
Within the Keynesian model, if the output of an economy is less than the full-employment level, then
a. a reduction in government expenditures will direct the economy back to full-employment equilibrium. b. a reduction in wage rates and resource prices will quickly restore full-employment equilibrium. c. a reduction in the real interest rate will soon restore full-employment equilibrium. d. output will tend to remain below full-employment capacity unless aggregate expenditures increase.