From the Keynesians' perspective, a short-run Phillips Curve exists because
A) wages and prices are perfectly flexible.
B) money demand is unstable.
C) investment is unstable.
D) wages change more slowly than the price level.
D
You might also like to view...
Which of the following would be most likely to cause an outward shift of the demand curve for electricity?
a. a decrease in the price of electricity b. an increase in the price of air conditioners c. an increase in the price of heating oil d. a decrease in the price of natural gas
An associate professor of physics gets a $200 a month raise. She figures that with her new monthly salary she can buy more goods and services than she could buy last year
a. Her real and nominal salary have risen. b. Her real and nominal salary have fallen. c. Her real salary has risen and her nominal salary has fallen. d. Her real salary has fallen and her nominal salary has risen.
A decrease in aggregate demand is seen as a(n):
A. upward movement along the aggregate demand curve. B. downward movement along the aggregate demand curve. C. shift to the left in the aggregate demand curve. D. shift to the right in the aggregate demand curve.
The percentage of the population in the two higher income classes (defined by Pew as having more than 200% of median family income)
A. declined from more than 60% in the 1970s to 50% in 2015. B. increased from the 1970s to 2015. C. remained constant at 60% from the 1970s to 2015. D. declined from more than 60% in the 1970s to 20% in 2015.