Considering a plot of the inflation rate and the unemployment rate, one might conjecture that the short run Phillips curve was further to the right in the first part of the 2000's than it was in the last part of the 1990s and 2000
a. If so, this might have been the result of a negative supply shock or an increase in expected inflation.
b. If so, this might been the result of a negative supply shock, or a decrease in expected inflation.
c. If so, this might have been the result of a positive supply shock, or an increase in expected inflation.
d. If so, this might have been the result of a positive supply shock, or a decrease in expected inflation.
a
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Currently, the United States has an import quota on the amount of sugar that is allowed to be imported into the United States. What would happen to the price of sugar in the United States if the import quota was removed? What would happen to U.S
consumption and U.S. production of sugar?
Perfectly competitive producers do not need to consider how their output levels affect price
Indicate whether the statement is true or false
Other things constant, which of the following job characteristics would be most likely to result in a higher pay rate for the job?
a. The employer provides low cost child-care services on the premises. b. The job requires substantial amounts of stressful out-of-town travel. c. The job involves working in pleasant surroundings. d. The job is widely viewed as prestigious.
Refer to the data below. What is the price elasticity of demand over the range of $8 to $10?
A. 0.11
B. 0.47
C. 1.93
D. 1.43