A movement to the left along a given short-run Phillips curve could be caused by
a. a reduction in the natural rate of unemployment or expansionary monetary policy.
b. expansionary monetary policy, but not a reduction in the natural rate of unemployment.
c. either a reduction in the natural rate of unemployment or a contractionary monetary policy.
d. contractionary monetary policy, but not a reduction in the natural rate of unemployment.
b
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When the marginal revenue curve cuts the horizontal axis,
A) demand is relatively elastic. B) demand is relatively inelastic. C) demand is perfectly elastic. D) demand is unitary elastic.
Using the information in the table shown, the marginal revenue:
This table represents the revenues faced by a monopolist.
A. increases, then decreases as output increases.
B. is negative after the 6th unit.
C. increases as output increases.
D. decreases, then increases after the 6th unit.
Florencia has decided to make computer literacy mandatory in high schools. This is expected to bring about a technological growth and cause: a. the long-run aggregate supply curve to shift rightward
b. the long-run aggregate supply curve to shift leftward. c. an upward movement along the long-run aggregate supply curve. d. a downward movement along the long-run aggregate supply curve.
In the product market, who is making the payments?
a. households b. firms c. governments d. producers