If the inflation rate is decreasing while unemployment is increasing:
a. the short-run Phillips curve must have shifted right
b. the short-run Phillips curve must have shifted left.
c. it must have involved a movement along the short-run Phillips curve
d. it would be inconsistent with any possible Phillips curve scenario.
c
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The sustained expansion of production possibilities is called
A) opportunity cost of growth. B) production possibilities. C) economic growth. D) economic investment. E) production expansion.
Which of the following is not correct? In a 2006 survey of Ph.D. economists,
a. 47 percent favored eliminating the minimum wage. b. 14 percent would maintain the minimum wage at its current level. c. 38 percent would increase the minimum wage. d. 10 percent would decrease the minimum wage.
YearSalaryCPI1969$20,52036.71979$43,26572.61989$85,529124.01999$135,250166.62009$170,844214.5If the 1999 salary in 2009 dollars is $174,136, what can we say about it compared to the 2009 income given in the table shown?
A. Although the nominal salary has increased, the amount of purchasing power has remained the same from 1999 to 2009. B. The 1999 salary could buy more goods and services in 2009 than the 2009 salary could buy. C. The increase in salary from 1999 to 2009 was more than inflation during that period. D. All of these statements are true.
The United States funds its unemployment compensation system by taxing
A. older, larger firms at a higher rate than younger, smaller firms. B. firms more when they have a history of causing more layoffs, up to a point. C. all firms at the same rate. D. firms more when they have greater profits so that they can afford the additional taxes. E. nonunion firms more than union firms because union firms pay higher wages on average.