A rightward shift of the aggregate demand curve leads to
A) an upward movement along the short-run Phillips curve.
B) neither a movement along nor a shift in the short-run Phillips curve.
C) a downward movement along the short-run Phillips curve.
D) a leftward shift of the short-run Phillips curve.
E) a rightward shift of the short-run Phillips curve.
A
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Suppose that the production function for the economy is: Y = AK1/4L3/4. Assume that A = 1,000, the capital stock is $32,000 billion, and the labor force is 120 million (or 0.120 billion) workers. The value of the marginal product of labor is
A) $14,290.17. B) $17,043.29. C) $20,451.95. D) $22,724.33.
Jan has an income of $30,000 and pays $4,500 in taxes. When Jan's income rises to $40,000 . her tax bill rises to $6,500 . What is Jan's marginal tax rate?
a. 5 percent. b. 15 percent. c. 16.25 percent. d. 20 percent.
Which of the following is an autonomous factor that, when increased, causes consumer spending to rise?
a. real wealth b. the interest rate c. household debt d. income
Refer to Figure 13A.1. Suppose that the economy starts with a capital stock of K0. Then total saving is given by point ________ and depreciation by point ________.
A. a; b B. b; a C. c; d D. d; c