If the ________ curve shifts from year to year and the ________ curve does not, then the Phillips curve would show a positive relationship between inflation and unemployment rates.
A. inflation; employment
B. aggregate demand; aggregate supply
C. employment; inflation
D. aggregate supply; aggregate demand
Answer: D
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Golden Rule of Cost Minimization - to minimize cost, the firm should employ inputs in such a way that the _______________ per dollar spent is equal across all inputs.
Fill in the blank(s) with the appropriate word(s).
If the market price is $25, the average revenue of selling five units is
A) $5. B) $12.50. C) $25. D) $125.
China has invested heavily in turbine manufacturing and in 2009 had become the world's largest wind power market. The investment in turbine manufacturing is an example of ________ investment.
A. human capital B. tangible capital C. social capital D. intangible capital
Sam is a musician who is out of work because electronic equipment replaced live musicians. This is an example of