The Phillips curve explains the trade-off between inflation and unemployment

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Using Scenario 1 what would happen to your budget constraint if suddenly you discovered an extra 10 hours in your schedule that you could use to study

What would happen to the slope of the budget constraint? What would happen to the positioning of the budget constraint?

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At the profit-maximizing level of output, marginal profit

A) is also maximized. B) is zero. C) is positive. D) is increasing. E) may be positive, negative or zero.

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At the profit-maximizing level of employment, the monopsonist

A) pays a wage equal to MRP. B) pays a wage greater than MRP. C) pays a wage less than MRP. D) pays a wage equal to MFC.

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Ferdinand Magellan was one of the leading explorers from _____

a. England b. France c. Holland d. Portugal e. Spain

Economics