As people come to expect higher inflation, the long-run Phillips curve shifts leftward
a. True
b. False
Indicate whether the statement is true or false
False
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Because of unseasonably cold weather, the supply of oranges has substantially decreased. This statement indicates the
A. demand for oranges will necessarily rise. B. price of oranges will fall. C. equilibrium quantity of oranges will rise. D. supply of oranges has declined.
Given the production possibilities schedule in the above table, a combination of 75 televisions and 60 personal computers
A) is attainable but involves the unemployment of some of society's resources. B) clearly illustrates the trade-off between televisions and computers. C) cannot be produced by society, given its current level of resources and production technology. D) can be produced only if society is willing to have some of its resources used inefficiently.
If the Federal Reserve Banks goal was to use open market operations to expand the economy it could move from:
A. MS1 to MS3
B. MS3 to MS2
C. MS4 to MS3
D. MS2 to MS1
Researchers have found numerous significant relationships between final prices agreed upon by bargainers and their personal characteristics such as education, income, and age
Indicate whether the statement is true or false