Along the long-run Phillips curve, the value of _____ remains constant
a. unemployment
b. inflation
c. the interest rate
d. investment
a
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Which of the following are included in the M1 definition of money?
A) currency and checkable deposits B) currency and savings deposits C) traveler's checks and money market mutual funds D) currency and small time deposits E) traveler's checks and savings deposits
Constant returns to scale refers to when:
A. an increase in the quantity of output decreases average total cost in the long run. B. an increase in the quantity of output increases average total cost in the long run. C. average total cost does not depend on the quantity of output in the long run. D. None of these is true.
Firms that coordinate economic activities to reduce competition is considered illegal per se.
Answer the following statement true (T) or false (F)
In an economy, which of the following is not a source of inefficiency?
A. Externalities B. Monopoly C. Public Goods D. International Trade