Over time, the Phillips curve has:
a. remained stable.
b. shifted downward.
c. shifted upward.
d. has become positively sloped.
c. shifted upward.
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The real rate of interest equals 5.0 percent and the anticipated rate of inflation is 3.0 percent. What does the nominal rate of interest? equal?
If the domestic income of a nation’s citizens increase, then we might expect net export spending to:
A. increase. B. decrease. C. remain constant. D. there is not enough information to determine what would happen.
Ceteris paribus, if Americans decide they want to drive more German-made cars, this causes the ________ German currency to ________.
A. supply of; increase B. supply of; decrease C. demand for; decrease D. demand for; increase
Refer to Figure 19.2. Diminishing marginal utility begins after
A. The third apple. B. The fourth apple. C. The first apple. D. The fifth apple.