The position of the long-run Phillips curve is determined by
A. the quantity of money
B. the natural unemployment rate
C. the inflation rate
D. the expected inflation rate.
Answer: B. the natural unemployment rate
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The difference between a perfectly competitive firm's total revenue and its total cost is
A) always positive. B) always negative. C) always zero. D) greatest at the profit-maximizing level of output.
All of the following are ways that the government can correct for positive externalities EXCEPT
A) by subsidizing the consumption of the good. B) producing the good itself. C) by regulation. D) by assessing an effluent fee.
The production of more capital goods this year means we must sacrifice the production of consumption goods in the future
Indicate whether the statement is true or false
Target has 12-packs of Pepsi on sale and changes the price tag on the shelf from $6.00 to $2.99. This is an example of money serving as a(n)
A. investment good. B. store of value. C. unit of account. D. medium of exchange.