Along a short-run Phillips curve, the
A) long-run cost of lower inflation is higher unemployment.
B) short-run cost of lower unemployment is higher inflation.
C) short-run cost of lower inflation is higher interest rates.
D) short-run cost of higher inflation is a higher real interest rate.
E) short-run benefit of lower unemployment is lower inflation.
B
You might also like to view...
For a monopoly, marginal revenue is equal to
A) the amount people buy at a given price. B) the amount people buy between two prices. C) the change in total revenue brought about by a one-unit increase in quantity sold. D) the price multiplied by the quantity sold. E) the price of the product.
Consider the following: The relative price of movies this year has
A) increased. B) decreased. C) stayed the same. D) Not enough information has been given to calculate an answer.
Which of the following would shift the supply curve for gasoline to the right? a. an increase in the demand for gasoline
b. an increase in the price of gasoline. c. an increase in the number of producers of gasoline. d. an increase in the price of oil, an input into the production of gasoline.
If the quantity supplied of science fiction novels decreases by 3% and the price elasticity of supply is 15, what has been the percentage price change?
a. -15% b. -3% c. -5% d. -0.2%