The Phillips curve is stable over time
Indicate whether the statement is true or false
F
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Between 1981 and 1986, as the federal budget deficit increased,
A. consumption spending fell. B. investment spending was crowded out. C. net exports increased. D. net exports were crowded out.
The ability of a monopoly to charge a price that exceeds marginal cost depends on the
A) price elasticity of supply. B) price elasticity of demand. C) slope of the demand curve. D) shape of the marginal cost curve.
If two goods are substitutes, an increase in the price of one will cause the demand for the other to decrease
Indicate whether the statement is true or false
When the Fed sells securities through open market operations, the equation of exchange (under monetarist assumptions about V being stable) requires that either aggregate spending
A. Or prices increase, or both. B. Or prices decrease, or both. C. Decreases or prices increase, or both. D. Increases or prices decrease, or both.