Consider a nation experiencing the relationship illustrated by the short-run Phillips curve. An increase in both unemployment and inflation in this nation over the next ten years can be explained by:
a. a downward movement along the short-run Phillips curve.
b. a series of outward shifts of the short-run Phillips curve.
c. an upward movement along the short-run Phillips curve.
d. a series of inward shifts of the short-run Phillips curve.
e. a complete change in the slope of the Phillips curve.
b
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________ is the process of researching and developing profitable new products and services by financial institutions
A) Financial engineering B) Financial manipulation C) Customer manipulation D) Customer engineering
Growth rates in labor productivity
(a) increased in the 1970s. (b) slowed across all employment sectors, with some experiencing more severe drops than others. (c) decreased across all employment sectors at the same rate. (d) were largely stagnate.
There is no difference between building a theory and evaluating a theory
Indicate whether the statement is true or false
The Ricardian model can be simplified and made more explanatory by assuming that there is only one resource used in producing goods. What did Ricardo assume the resource was?
a. capital b. technology c. labor d. loanable funds