Other things the same, if the central bank decreases the rate at which it increases the money supply, then in the long run
a. the short-run Phillips curve shifts right.
b. the short-run Phillips curve shifts left.
c. the long-run Phillips curve shifts right.
d. the long-run Phillips curve shifts left.
b
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The game between music stores in the figure shows us that:
This figure displays the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to make a profit at such low prices. The Rock Shop is trying to decide whether or not it should enter the market and compete with MiiTunes.
A. only The Rock Shop has a dominant strategy, and so the outcome cannot be predicted.
B. only MiiTunes has a dominant strategy, and so the outcome cannot be predicted.
C. neither store has a dominant strategy, and so the outcome cannot be predicted.
D. None of these statements is true.
The market demand curve for a public good
a. is the horizontal sum of all individual demand curves b. is the vertical sum of all individual demand curves. c. is upward sloping d. is horizontal e. does not exist
What would cause a positive Pap smear?
A. Breast cancer B. Cervical cancer C. Endometriosis D. Herpes
Suppose we observe the price level increasing and real GDP decreasing. An explanation for this is that
A. the dollar strengthened and the effect on aggregate supply was less than the effect on aggregate demand. B. the dollar weakened and the effect on aggregate supply was less than the effect on aggregate demand. C. the dollar strengthened and the effect on aggregate supply was greater than the effect on aggregate demand. D. the dollar weakened and the effect on aggregate supply was greater than the effect on aggregate demand.