The Samuelson-Solow version of the Phillips curve showed the relationship between unemployment rates and
A) Real GDP growth rates.
B) price inflation rates.
C) wage inflation rates.
D) imports.
B
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If the absolute price elasticity of demand for automobiles is equal to 1.25, we say
A) that demand is elastic. B) that demand is inelastic. C) that there is a strong responsiveness of quantity demanded to automobiles price cuts. D) none of the above is correct.
Imputed rental income is considered taxable income to the homeowner under current tax law
a. True b. False
Refer to the above figure. Which panel best demonstrates the demand curve?
A) Panel A B) Panel B C) Panel C D) Panel D
Assume Kevin's income to spend on the two goods in the graph shown is $48, and books cost $12. If Kevin's budget constraint is one of the lines in the graph, which one must it be?
A. A
B. B
C. C
D. It could be either A or B