The Phillips Curve will shift when
A) the overall employment rate remains unchanged.
B) the expected inflation rate changes.
C) the price level falls.
D) none of the above.
B
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Which of the following is an example of an intermediate good?
A. A new CD player sold to a teenager B. A new CD player sold to an automaker for installation in a car C. A metal-stamping machine used to produce cars sold to an automaker D. A new car sold to a family
Ersatz Kreme will sell its filling to Hunky Donuts only if Hunky Donuts agrees not to buy filling from other suppliers. This is an example of
a. price discrimination b. exclusive dealing c. a tying contract d. interlocking directorates e. a trust
Tommy spends most of his monthly budget on $3 video game rentals or $6 packets of baseball cards. The opportunity cost to Tommy of an extra packet of baseball cards is
A. one video game rental. B. two video game rentals. C. the cost of the baseball cards. D. he does not incur an opportunity cost.
'Reverse causality' means:
a) the value of two things move in the opposite direction b) the value of two things move in the same direction c) changes in 'A' most likely caused changes in 'B', yet someone concluded 'B caused A' d) 'A' happened before; 'A' happened again e) there is a 'spurious correlation' between 'A' and 'B'