The Phillips curve illustrates the relationship between:
a. change in the money supply and change in unemployment.
b. tax rates and tax revenues.
c. the equilibrium level of income and the employment rate.
d. inflation and unemployment.
d
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Cisco is considering opening a financial institution that accepts savings deposits from only its employees and makes loans to only its employees. The best description of this financial institution is that it is a
A) credit union. B) savings and loan association. C) federal government chartered credit bank. D) commercial bank. E) savings bank.
In a perfectly competitive market, the price in the long run:
A) will always be more than the minimum average total cost of the industry. B) will always be less than the minimum average total cost of the industry. C) will always equal the minimum average total cost of the industry. D) will always equal the average fixed cost of the industry.
A subgame-perfect equilibrium is a Nash equilibrium in which no player can make himself better off by changing his decision at any decision node
Indicate whether the statement is true or false
Figure 10-3
?
In Figure 10-3, we would expect the aggregate supply curve in graph (b) to eventually
A. shift to the right, eliminating the recessionary gap. B. shift to the left, eliminating the inflationary gap. C. become steeper in the upper portion, eliminating the inflationary gap. D. become flatter in the upper portion, eliminating the recessionary gap.