In the graph showing the data for the short-run and long-run Phillips curve from 1979–1987, the shift back to the natural rate of unemployment is represented by the move from ______.
a. Point D to Point E
b. Point D to Point F
c. Point E to Point F
d. Point F to Point D
d. Point F to Point D
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Figure 5-3
Suppose that the market price rises from $3 to $5. What is the change in market demand?
A. 80 B. 30 C. 50 D. 110
All else equal and given the current system of exchange rates, if the United States enters a period of exceptionally strong growth,
A) the pressure on the dollar is to revalue. B) the pressure on the dollar is to devalue. C) the pressure on the dollar is to depreciate. D) the pressure on the dollar is to appreciate. E) Both A and D.
Voters may be rationally ignorant about political issues because they:
a. don't realize how much they benefit from voting b. underestimate the effect of their one vote c. believe that the cost of gaining the information is greater than the benefit of having the information d. all of the above
If income were distributed according to the egalitarian principle of "to each exactly the same," then one problem would be that
A. productivity levels would probably become too high. B. there would be little or no incentive for individuals to take risky, hazardous, or unpleasant jobs. C. individuals would have an excess desire to invest in their own human capital. D. too many individuals would want to take risky jobs.