The equation, Unemployment rate = Natural rate of unemployment - a × (?ctual inflation - Expected inflation),
a. is the equation of the short-run Phillips curve.
b. implies there can be no stable short-run Phillips curve.
c. reflects the reasoning of Friedman and Phelps.
d. All of the above are correct.
d
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Based on the information in Scenario 1, nominal GDP in 2016 in this economy was
A) $830. B) $1,025. C) $1,090. D) $1,345.
Explain the difference between general grants and categorical grants. Under what circumstance will they have the same impact? In that case, will one have an advantage over the other?
What will be an ideal response?
A country will roughly double its GDP in twenty years if its annual growth rate is _____
a. 12 percent b. 7.5 percent c. 3.5 percent d. 2.5 percent
If a increase in income decreases the demand for a good, then the good is a(n)
a. substitute good. b. complementary good. c. normal good. d. inferior good.