The shifts of the short-run and long-run Phillips curves in the figure above are the result of
A) an increase in the expected inflation rate.
B) an increase in the natural unemployment rate.
C) a decrease in the natural unemployment rate.
D) an increase in the actual inflation rate.
E) a decrease in the expected inflation rate.
B
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Which of the following factors are held constant for a given demand curve for a good?
A. The price of the good B. The technology used to produce the good C. The supply of the good D. Consumer incomes and the prices of other goods
The situation in which the marginal product of labor is greater than zero and declining as more labor is hired is called the law of: a. negative response
b. inverse return to labor. c. diminishing returns. d. demand.
Monopoly firms may lead to higher costs than perfectly competitive firms.
Answer the following statement true (T) or false (F)
The marginal cost of serving an additional user of a public good is zero
a. True b. False Indicate whether the statement is true or false