In the 1960s and early 70s, economists believed that the Phillips curve indicated:
a. a menu of macroeconomic choices available to policy makers
b. that higher levels of employment could be achieved with lower inflation.
c. that higher inflation was the price for more unemployment.
d. all of the above.
a
You might also like to view...
Based on the table below and the principle of diminishing returns to capital, then total packages wrapped when a fourth machine is installed must be less than ________ packages.Number of (Identical) MachinesTotal Packages Wrapped 1110,000213,000315,000
A. 15,000 B. 17,000 C. 16,000 D. 2,000
Which of the following types of insurance do men pay lower premiums than do women?
A) life insurance B) health insurance C) auto insurance D) There are no legally allowed differences.
After a particular loan has been paid off, neither the borrower nor the lender has lost purchasing power. Therefore, it must be true that actual inflation was
What will be an ideal response?
A Lorenz curve that is perfectly straight indicates
A. complete income equality. B. that a large portion of the population accounts for most of the income. C. that a small portion of the population accounts for most of the income. D. that society is very rich.