Which of the following would shift the Phillips curve to the left?
A. Contractionary fiscal policy.
B. A decrease in the regulation of business.
C. Contractionary monetary policy.
D. An increase in import tariffs.
Answer: B
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One possible way of achieving faster economic growth is to
A) abolish the system of patents and copyrights so that everyone can use people's ideas. B) limit international trade to only a few countries so that the nation is not hurt by too much trade. C) encourage research and development. D) limit schooling in order to have more people in the labor force, producing goods and services. E) promote tax saving so that people spend more and businesses' profits are larger.
Compared to a monopolist, the demand curve for a perfectly competitive firm will be
A) as elastic. B) more elastic. C) less elastic. D) perfectly elastic.
Which of the following is true about vertical mergers?
a. It improves coordination among the individual firms in an industry. b. It is an agreement among firms to follow a common pricing policy. c. It increases the competitiveness of the merged firms. d. It increases the market power of the merged firms.
How is the utility of a gamble to a risk averse person different from that to a risk neutral person?