Which of the following is downward-sloping?
a. both the long-run Phillips curve and the short-run Phillips curve
b. neither the long-run Phillips curve nor the short-run Phillips curve
c. the long-run Phillips curve, but not the short-run Phillips curve
d. the short-run Phillips curve, but not the long-run Phillips curve
d
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What will be the result in a growing economy if increases in aggregate demand outpace rightward shifts of the long-run aggregate supply curve?
A) secular deflation B) inflation accompanied by declines in real GDP C) inflation accompanied by increases in real GDP D) a decline in consumption spending
Which of the following statements is true? (i) When a competitive firm sells an additional unit of output, its revenue increases by an amount less than the price. (ii) When a monopoly firm sells an additional unit of output, its revenue increases by an amount less than the price. (iii) Average revenue is the same as price for both competitive and monopoly firms
a. (ii) only b. (iii) only c. (i) and (ii) only d. (ii) and (iii) only
If the government of Venezuela made policy changes that increased national saving, the real exchange rate of the peso would
a. depreciate and Venezuelan net exports would rise. b. depreciate and Venezuelan net exports would fall. c. appreciate and Venezuelan net exports would rise. d. appreciate and Venezuelan net exports would fall.
Highway and home construction had a boom from
A. 1925-1940. B. 1935-1950. C. 1945-1960. D. 1965-1980.