If a central bank increases the money supply growth rate, then in the short run
a. unemployment rises. In the long run the short-run Phillips curve shifts right.
b. unemployment rises. In the long run the short-run Phillips curve shifts left.
c. unemployment falls. In the long run the short-run Phillips curve shifts right.
d. unemployment falls. In the long run the short-run Phillips curve shifts left.
c
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The branch of economics which studies how households and firms interact in markets is called
A) macroeconomics. B) positive economics. C) normative economics. D) microeconomics.
Nontariff barriers lead to: a. decreases in the prices of imports
b. an increase in domestic production. c. increases in the prices of exports. d. an increase in domestic consumption.
Many Asian countries since the 1980s and 1990s have:
A. supported export-led growth instead of import substitution policies. B. supported import substitution policies instead of export-led growth. C. failed in their attempts at industrial clustering. D. been extremely successful in their attempts at industrial clustering.
Rational self-interest means
A) always increasing your wealth. B) pursuing what makes you better off. C) pursuing activities that maximize income. D) always pursuing activities that are consistent with your faith.