The negative correlation between the vacancy rate and the unemployment rate is called
A) The Laffer curve.
B) The Phillips curve.
C) The Fisher relation.
D) The Beveridge curve.
D
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Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2008 and 2011.
A) 23.1%
B) 23.8%
C) 30%
D) 42.9%
A speculator becomes the fixed-rate payer in an interest rate swap. He expects that
A) long rates rise. B) long rates fall. C) short rates rise. D) short rates fall.
When consumers in a market become fully informed of negative information about the product, we can expect the
A. price of the product to decrease. B. price of the product to increase. C. price of the product to remain constant but the equilibrium quantity to decrease. D. equilibrium quantity of the product to increase.
The real-income effect refers to
A) the law of diminishing marginal utility. B) the want-satisfying power of a good or service. C) substitution of less expensive commodities for more expensive commodities. D) the change in purchasing power when the price of a good changes.