According to the Phillips curve
A) there is a direct relationship between price-level changes and the level of unemployment rate.
B) the unemployment rate is not affected by changes in the price level.
C) there is an inverse relationship between price-level changes and the unemployment rate.
D) price-level changes are not affected by changes in the unemployment rate.
C
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The budget of an economy is said to be in deficit when: a. federal outlays exceed revenues
b. federal revenues exceed outlays. c. anticipated inflation rate exceeds its actual rate. d. there is a loss of value of a country's currency with respect to one or more foreign reference currencies. e. anticipated interest rate exceeds its actual rate.
Briefly contrast how firms in a perfectly competitive market will respond to long-run profits and losses. Include an explanation of how each response affects the price level
An increase in the demand for loanable funds increases the equilibrium interest rate and increases the equilibrium level of saving
a. True b. False Indicate whether the statement is true or false
A common solution to monopoly in European countries is public ownership
a. True b. False Indicate whether the statement is true or false