Use the above figure. The long-run Phillips curve is best depicted by graph
A. A.
B. B.
C. C.
D. D.
Answer: C
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The People's Bank of China has
A) allowed a flexible exchange rate to boost exports. B) managed its exchange rate to help control inflation. C) strictly followed a fixed exchange rate to boost exports. D) purchased U.S. dollars to appreciate the yuan.
If the actual price level is lower than the expected price level, an economy will contract in the short run.
a. true b. false
What is a marginal benefit?
What will be an ideal response?
The value of U.S. imports is:
A. added to exports when calculating GDP because imports reflect spending by Americans. B. subtracted from exports when calculating GDP because imports do not constitute spending by Americans. C. added when calculating GDP because imports do not constitute production in the United States. D. subtracted from exports when calculating GDP because imports do not constitute production in the United States.