If the government of a country decides to spend more money on public welfare, there will be a leftward shift of the short-run Phillips curve
a. True
b. False
Indicate whether the statement is true or false
False
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An individual wanting the most liquid asset possible will hold
A) currency. B) a savings account. C) gold. D) U.S. government bonds.
A supply curve that illustrates the law of supply ____________.
Fill in the blank(s) with the appropriate word(s).
The opportunity cost of playing tennis with your friend is:
A.) Negative since its good exercise. B.) Zero since you already own the tennis racket and play on a public court. C.) The next-best alternative use of your time that is forgone. D.) The cost of the tennis lessons you took last year.
Refer to the graph shown. A movement from A to C is most likely to be caused by:
A. an increase in aggregate demand. B. an increase in input prices. C. a decrease in input prices. D. a decrease in aggregate demand.