If workers and firms lower their inflation expectations,
A) unemployment will rise.
B) the short-run Phillips curve will shift downward.
C) the short-run Phillips curve will be vertical.
D) actual inflation will fall to match expected inflation.
B
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It can take many months or even more than a year to begin a(n) _______________ fiscal policy after a recession has started.
a. contractionary b. exploratory c. aggressive d. expansionary
According to the following graph, if U2 is the maximum attainable utility, the price of X is
The price of Y is $50.
A. $10. B. $25. C. $15. D. $20. E. none of the above
Which of the following examples shows the most inelastic demand?
a. When the price of printers increases from $800 to $1,000 per printer, sales decreases by 20 percent. b. When the price of fedoras increases from $90 to $100 per hat, sales decreases by half. c. When the price of shoes decreases from $60 to $50 per pair, sales increases 5 percent. d. When the price of crackers decreases from $3 to $2 per box, sales double.
To date, the longest prison sentence for violating the Sherman Act has been ________ years.
A) ten B) eight C) two D) five