[NeedAttention]
Exhibit 30-1
?
A. ABC.
B. Q2BCQ1.
C. Q2BAQ1.
D. Q2EAQ1.
Answer: D
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Starting on a Phillips curve with expected inflation equal to 5% and unemployment at its natural rate, show what happens to unemployment if the Fed tries to reduce inflation, but has no credibility
As time passes and people realize that the inflation rate is now lower, what happens to the short-run Phillips curve?
According to the graph shown, if this were depicting an autarky, the amount being bought domestically is:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. 60 at $10 each.
B. 60 at $17 each.
C. 115 at $14 each.
D. 150 at $10 each.
A natural monopoly exists when
A) the firm holds a patent. B) there are governmental entry restrictions. C) the firm owns all of the raw materials needed to produce the product. D) economies of scale occur.
If good “A” is represented on the horizontal axis and good “B” on the vertical axis, then the steeper the production possibilities frontier at a given level of production of good “A,” the
A. larger the opportunity cost of producing an extra unit of good “A.” B. larger the quantity of resources being devoted to the production of good “B.” C. smaller the quantity of resources being devoted to the production of good “A.” D. smaller the opportunity cost of producing an extra unit of good “A.” E. greater the returns to scale in the production of good “A.”