Most economists now agree that the Phillips curve demonstrates that there is
a. an unemployment-inflation trade-off in the long run, but not in the short run.
b. an unemployment-inflation trade-off in both the short run and the long run.
c. an unemployment-inflation trade-off in the short run, but not the long run
d. no unemployment-inflation trade-off in either the short run or the long run.
c
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The value of a country's exports during a particular year was $610,000 and the value of its imports was $995,000. Which of the following is true?
A) The country ran a fiscal deficit of $605,000 during that year. B) The country ran a trade surplus of $385,000 during that year. C) The country ran a trade deficit of $385,000 during that year. D) The country ran a budget surplus of $1,605,000 during that year.
The quintile distribution of family income in the United States shows
A) the average incomes of 5-person families grouped by age, sex, race, education, and similar factors. B) the percentage of total family income received by each 5 percent of U.S. families grouped by income. C) the percentage of total income received by each 20 percent of U.S. families grouped by income. D) the percentage of total family income spent on food, clothing, shelter, medical care, and essential services. E) the percentage of total family income stemming respectively from wages, interest, profit, rent, and welfare grants or other transfers.
Legally speaking, the geographic concentration of slavery in the southern part of the U.S. is explained by all of the following except:
a. provisions in the Northwest Land Ordinance of 1787. b. plantations employing high slave labor were present in Southern states. c. laws allowing for gradual emancipation in some northern states. d. an amendment to the U.S. Constitution that allowed importation of slaves only through the port of Charleston after 1800.
Potential problems with incentive based compensation are
a. not evaluating the relevant performance measures b. rewarding outcomes that are not included in the performance evaluation c. not granting rewards for meeting performance measures d. all of the above