The automatic adjustment mechanism that makes the economy move towards the long-run Phillips Curve is:
A. Expansionary fiscal or monetary policy
B. Inflation expectations and wage adjustments
C. Contractionary fiscal or monetary policy
D. Increases in productivity over time
B. Inflation expectations and wage adjustments
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Define comparative advantage and discuss its role in international trade
What will be an ideal response?
Which of the following would increase the unemployment rate?
A) an increase in unemployment insurance payments B) a law making it illegal to work more than 35 hours per week C) a cut in unemployment compensation D) a decrease in the minimum wage
Stock markets in England were started in the late:
A. Seventeenth century. B. Sixteenth century. C. Eighteenth century. D. Nineteenth century.
At what rate is GDP growth reported?
a. monthly, at an annualized rate b. quarterly, at a quarterly rate c. monthly at a quarterly rate d. quarterly, at an annualized rate