A vertical long-run Phillips curve is a vertical straight line at the natural rate of unemployment.
Answer the following statement true (T) or false (F)
True
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An opportunity cost is
A) an opportunity lost. B) only the explicit costs of an action. C) only the costs a person can consciously articulate at the moment of deciding. D) none of the above.
By announcing a higher inflation target, a central bank can
A) permanently increase real GDP and permanently decrease the unemployment rate. B) temporarily increase real GDP and permanently decrease the unemployment rate. C) permanently increase real GDP and temporarily decrease the unemployment rate. D) temporarily increase real GDP and temporarily decrease the unemployment rate.
The random walk model is an example of a
A) deterministic trend model. B) binomial model. C) stochastic trend model. D) stationary model.
If the price of Verizon cell phones falls, what will happen to the demand curve for Verizon sales people?
a. It will shift to the right. b. It will shift to the left. c. The direction of the shift is ambiguous. d. It will remain unchanged.