If inflationary expectations are stable and there is no current inflation, the short-run Phillips curve will intersect the long-run Phillips curve at:
a. a 0 percent unemployment rate
b. a 2 percent unemployment rate.
c. a 4 percent unemployment rate.
d. the natural rate of unemployment.
d
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The above table gives the demand and supply schedules for Blu-ray discs. Suppose that the price of a Blu-ray disc player increases, resulting in the demand for Blu-ray discs decreasing by 8,000 units at all prices
What are the new equilibrium quantity and equilibrium price of Blu-ray discs? A) 8,000 and $8 B) 16,000 and $16 C) 20,000 and $20 D) 28,000 and $28
In a perfectly competitive market, in the long run, arbitrage profits will be bid away
Indicate whether the statement is true or false
The confidence interval for the sample regression function slope
A) can be used to conduct a test about a hypothesized population regression function slope. B) can be used to compare the value of the slope relative to that of the intercept. C) adds and subtracts 1.96 from the slope. D) allows you to make statements about the economic importance of your estimate.
The Bretton Woods system
a. established a worldwide gold standard b. established a worldwide system of fixed exchange rates c. established a worldwide system of flexible exchange rates d. harmonized tariff systems e. was restricted to industrialized nations