The Phillips curve represents a direct relationship between the inflation rate and the unemployment rate
a. True
b. False
Indicate whether the statement is true or false
False
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St. Charles Hospital, located in an upper-income neighborhood of a large city, recently received a restored mansion as a gift from an appreciative patient. The board of directors decided to remodel the mansion and use it as recuperative quarters for patients willing to pay for luxurious accommodations. The cost to the hospital of using the mansion includes
A. nothing because it was a gift. B. how much the hospital pays for upkeep--taxes, insurance, utilities, maintenance, etc. C. how much the hospital would receive if it rented or sold the mansion. D. both b and c
The production possibility curves of two countries are given below:LegolandElmolandChocolateTextilesChocolateTextiles3006002020301515302020060030Refer to the production possibility curves of the two countries. Without trade, the most each country could produce would be:
A. 30 chocolate and 30 textiles. B. 60 chocolate and 60 textiles. C. 20 chocolate and 20 textiles. D. 15 chocolate and 15 textiles.
Refer to the data provided in Table 17.1 below to answer the following question(s). The table shows the relationship between income and utility for Jane.Table 17.1 IncomeTotal Utility $00$20,00025$40,00045$60,00060$80,00070Refer to Table 17.1. From the table, we can see that Jane is
A. risk-neutral. B. risk-averse. C. risk-loving. D. We cannot determine Jane's attitude toward risk from the table.
Refer to Figure 13-3. Suppose the economy is at point C. If investment spending decreases in the economy, where will the eventual long-run equilibrium be?
A) A B) B C) C D) D