Which of the following is eroding the U.S. comparative advantage?
A. Intellectual property rights
B. A depreciating dollar
C. The spread of technology
D. The law of one price
Answer: C
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Borrowing to finance the increases in government expenditures
A) reduces current private investment expenditures. B) increases interest rates. C) reduces growth in the nation's private capital stock. D) all of the above.
The historical record suggests that
A) the Phillips curve is horizontal. B) once policy makers attempted to exploit a short-run Phillips curve trade-off, it disappeared. C) shifts in long-run aggregate supply do not affect real output. D) inflation rates are lowest when unemployment rates are also low.
What is the average cost per unit for producing 3 units?
a. 200 b. 260 c. 70 d. 110
If the long-run Phillips curve is vertical, then any government policy designed to lower:
a. unemployment will not change the unemployment rate and only increase the inflation rate. b. unemployment will work leaving the inflation rate unchanged. c. inflation will cause employment to rise. d. unemployment will work causing the inflation rate to fall. e. unemployment will work causing inflation to rise.