In the Phillips curve equation, which of the following will cause an increase in the current inflation rate?
A) an increase in the expected inflation rate
B) a reduction in the unemployment rate
C) an increase in the markup, m
D) all of the above
E) none of the above
D
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Imposing tariffs in cases of dumping
A) is allowed under the WTO agreement. B) is not allowed under the WTO agreement. C) has never occurred, even though it is allowed under the WTO agreement. D) is not addressed by the WTO agreement.
Refer to Figure 14-4. How will Rainbow Writer respond to Odeon's two possible offers?
A) Rainbow Writer will only accept an offer of $30 per copy of the software package. B) Rainbow Writer will only accept an offer of $40 per copy of the software package. C) Rainbow Writer will reject either offer. D) Rainbow Writer will accept either offer.
Which of the following is NOT an advantage of a proprietorship?
A) They are easy to form and dissolve. B) Decision-making resides with one person—the owner. C) Liability of the owner is unlimited. D) Profits are only taxed once.
The firm's shutdown point occurs at an output of
A. 40.
B. 45.
C. 50.
D. 55.
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