The Phillips curve shows the relationship between the rate of inflation and the rate of growth of real GDP
a. True
b. False
Indicate whether the statement is true or false
False
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The above figure shows Jane's budget line and two of her indifference curves. Which of the following happens to Jane's budget line if the price of a lobster dinner fell?
A) It would rotate inward around the vertical intercept, 10 lobster dinners. B) It would rotate outward around the vertical intercept, 10 lobster dinners. C) It would rotate inward around the horizontal intercept, 20 steak dinners. D) It would rotate outward around the horizontal intercept, 20 steak dinners.
An example of a "missing" market would be:
A. the market to buy and sell children for adoption. B. the market to buy and sell a kidney. C. the market to buy and sell dates for a Friday night. D. All of these markets are missing.
Union membership has increased continuously in the United States since the 1950s
Indicate whether the statement is true or false
Suppose that a country becomes relatively better than other countries at producing wind generators, in this country
a. structural unemployment and so the natural rate of unemployment will increase. b. structural unemployment and so cyclical unemployment will increase. c. frictional unemployment and so the natural rate of unemployment will increase. d. frictional unemployment and the cyclical rate of unemployment will increase.