Which of the following is always correct in an open economy?
a. S = I
b. S = NX + NCO
c. S = NCO
d. S = I + NCO
d
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The short run Phillips curve
A) shows that any inflation rate can co-exist with the natural unemployment rate. B) shows the tradeoff between the inflation rate and the unemployment rate, and it shifts when the expected inflation rate changes. C) shows the relationship between the inflation rate and the expected inflation rate, and it shifts when the natural unemployment rate changes. D) shows the relationship between the inflation rate and the nominal interest rate, and it shifts when the natural unemployment rate changes. E) shows the tradeoff between the inflation rate and the unemployment rate and it shifts when the inflation rate changes.
A reduction in unemployment benefits will tend to cause which of the following?
A) an upward shift in the WS curve B) a downward shift in the WS curve C) an upward shift in the PS curve D) a downward shift in the PS curve E) none of the above
During a recession, spending on ________ tends to fall more dramatically than spending on ________
A) necessities; luxuries B) durable goods; nondurable goods C) nondurable goods; durable goods D) food; cars
Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow. 
Figure 8.5 Refer to Figure 8.5. The total fixed costs for Blackstar Drones are
A. $0. B. $50. C. $150. D. indeterminate from this information.