The traditional Phillips curve suggests a conflict or tradeoff between
A. price level stability and income equality.
B. the level of unemployment and price level stability.
C. unemployment and income equality.
D. economic growth and full employment.
B. the level of unemployment and price level stability.
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When households choose to hold money as a store of value, rather than holding assets such as certificates of deposit, stocks, and bonds, ________ demand for money results
A) liquidity B) asset C) transactions D) precautionary
Opponents of cigarette taxes often argue that tobacco and marijuana are substitutes so that high cigarette prices
a. encourage marijuana use, and the evidence supports this argument. b. encourage marijuana use, but the evidence does not support this argument. c. discourage marijuana use, and the evidence supports this argument. d. discourage marijuana use, but the evidence does not support this argument.
If the domestic income of a nation's citizens increase, then we might expect net export spending to:
A. remain constant. B. increase. C. decrease. D. there is not enough information to determine what would happen.
The price of gold is often volatile because:
A. Demand is relatively inelastic so changes in supply have a large effect on price B. Supply is relatively elastic so changes in demand have a large effect on price C. Demand is relatively elastic so changes in supply have a large effect on price D. Supply is relatively inelastic so changes in demand have a large effect on price