The relationship between inflation and unemployment is depicted by the
A. Phillips curve.
B. production possibility curve.
C. aggregate demand curve.
D. aggregate supply curve.
Answer: A
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A currency's spot exchange rate against every other individual currency is known as a ________ exchange rate, and the exchange rate which shows how a currency is changing relative to a group of other countries' currencies is known as a ________
exchange rate. A) nominal; real B) unilateral; bilateral C) nominal; parity D) bilateral; multilateral
A person cutting up her credit cards in an effort to curb her spending is an example of:
A. a commitment device. B. status quo bias. C. loss aversion. D. the endowment effect.
An example of a monopoly would be
A) one of many U.S. wheat farmers. B) one of the few U.S. auto makers. C) AT&T cell phone service. D) the local water company. E) Taco Bell
A numerical limit imposed by a government on the quantity of a good that can be imported into the country is called a
A) barricade. B) quota. C) tariff. D) quantity floor.