Policymakers' attempts to use the Phillips curve to reduce the unemployment rate below the natural rate
A) will be successful since the Phillips curve shows the relationship between the inflation rate and the unemployment rate.
B) will be successful if monetary policy is used.
C) will be unsuccessful if monetary policy is used since monetary policy leads to higher prices.
D) will be unsuccessful since workers' expectations adjust to attempts to reduce unemployment below the natural rate.
D
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For the use of the employee’s participation in production, an employee receives
a. wages. b. rent. c. interest. d. profit.
Historical episodes are
a. valuable to economists because they allow economists to see how the science of economics has evolved. b. valuable to economists because they allow economists to evaluate economic theories. c. not of concern to economists because economics is about predicting the future, not dwelling on the past. d. not of concern to economists because the exact circumstances of historical episodes are unlikely to be observed again.
The average tariff rate of the United States is about ________ of the value of their imports.
A. 1.6 percent B. 7.4 percent C. 59 percent D. 100 percent
Expansionary fiscal policy is likely to lead a nation's currency to depreciate
Indicate whether the statement is true or false