Choose the letter of the diagram in Figure 16.1 that represents the Phillips curve.
A. a.
B. b.
C. c.
D. d.
Answer: A
Economics
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The concept of economic rent is associated with the economist
A) Adam Smith. B) Karl Marx. C) David Ricardo. D) Henry George.
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An industry consists of all firms that supply output to a particular market
a. True b. False
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What is a criticism of the CPI?
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Along the supply? curve, _______.
A. the quantity supplied increases as the price rises because technology advances B. the quantity supplied increases as the price rises because the prices of factors of production rise C. the quantity supplied increases as the price rises because the prices of substitutes in production also rise D. the price changes but all other influences on? producers' planned sales remain the same
Economics