The Phillips curve is a negative empirical relationship between
A. inflation and the real interest rate.
B. unemployment and inflation.
C. unemployment and output.
D. bond prices and interest rates.
Answer: B
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Refer to Table 2.3. Nominal GDP in 2013 is
A) $568.00. B) $794.00. C) $812.00. D) $961.00.
Which of the following statements is correct?
a. In both the Keynesian and classical systems, aggregate demand is an important determinant of output and employment b. In classical and monetarist models, money is the primary factor determining changes in aggregate demand. c. Aggregate demand in the Keynesian model is determined entirely by the quantity of money, whereas in the classical model, money is one of several factors determining aggregate demand d. None of the above
A horizontal merger between two firms occurs when:
a. the products of the merging firms were not related in any manner before the merger. b. one firm is a producer of products, and the other firm is a producer of services. c. one firm is a domestic firm, and the other is a foreign company. d. the firms stood in a buyer-seller relationship before the merger. e. the merger partners were competitors.
What is the difference between command-and-control policies and market-based policies toward externalities?
a. Command-and-control policies provide incentives for private decisionmakers to solve the problems on their own, whereas market-based policies regulate behavior directly. b. Command-and-control policies rely on taxes, whereas market-based policies rely on quotas. c. Command-and-control policies regulate behavior directly, whereas market-based policies provide incentives for private decisionmakers to change their behavior. d. Command-and-control policies are efficient, whereas market-based policies are inefficient.