If the short-run Phillips curve has a very steep slope, the
a. structural deficit will grow during inflation.
b. structural deficit will fall during recession.
c. inflation costs of reducing unemployment are relatively low.
d. inflation costs of reducing unemployment are relatively high.
d
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How would you interpret (1) an upward sloping curve and (2) a zero slope curve in a two variable diagram?
What will be an ideal response?
How have government policies and programs affected the volatility of the business cycle in the United States since 1950? Explain and provide at least two specific examples of policies or programs that may have had an impact
What will be an ideal response?
In general, with a monopolist's outcome, total surplus is:
A. the same as that of a competitive market. B. higher than that of a competitive market. C. lower than that of a competitive market. D. Any of these is possible.
Government subsidies are in place to protect the population rather to benefit the economy in the case of which recipient(s)?
(A) Tobacco growers in the United States. (B) National airlines in Western Europe. (C) Small farms in France. (D) A national car company in Indonesia.