If aggregate supply changes when aggregate demand is stable, then the Phillips curve is negatively sloped.
Answer the following statement true (T) or false (F)
False
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Which of the following is not a problem from incurring debt?
a. everyone has less current income b. it promotes overconsumption c. it can cause inflation d. private investment may be reduced e. future consumption may be reduced
Which of the following are NOT scarce?
a. time for leisure activities b. computers c. compact discs d. the air we breathe
Regulations to reduce pollution
a. cause pollution levels to drop below the regulated amount. b. are typically a more costly solution to society than a corrective tax. c. allow firms with the lowest cost to reduce pollution by more than those with the highest costs. d. are a better solution for the environment than a corrective tax.
M1 is considered ________ measure of money compared to M2.
A. just as legitimate a B. a more stable C. a more legitimate D. a less legitimate