The financial market shock which occurred during the recession of 2007-2009 increased the default-risk premium, and the housing shock which occurred during the recession of 2007-2009 reduced wealth and residential construction
These two events would result in A) a movement up along the Phillips curve.
B) a movement down along the Phillips curve.
C) an upward shift of the Phillips curve.
D) a downward shift of the Phillips curve.
B
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When oligopolistic firms in an industry form a cartel, then it is most likely that
A) both industry output and prices will increase. B) both industry output and prices will decrease. C) industry output will increase while prices will decrease. D) industry output will decrease while prices will increase.
Economic rent is the minimum payment necessary to induce any of the factor to be supplied
a. True b. False Indicate whether the statement is true or false
If the secular trend of labor productivity is 3 percent per year, the number of years that it will take for the standard of living to double will be about:
A. 23 years. B. 20 years. C. 15 years. D. 17 years.
If 1 U.S. dollar exchanges for 7.0 Chinese Yuan, how much would it cost in U.S. dollars and cents to purchase a Chinese toy priced at 140 Yuan?
What will be an ideal response?