According to the ________ Phillips curve, the unemployment rate and the inflation rate are negatively related
A) long-run and short-run B) rational expectations
C) short-run D) long-run
C
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The United States switched from being a ________ to being a ________ in the early 1980s, when it started to run large current account ________
A) net lender; net borrower; deficits B) net borrower; net lender; deficits C) net borrower; net lender; surpluses D) debtor nation; creditor nation; deficits E) net lender; net borrower; surpluses
Average total cost is $100 for a given output, total fixed cost is 120 and average variable cost is 70. What is the quantity being produced?
What will be an ideal response?
Market failure establishes a basis for:
a) Government intervention. b) Private goods. c) Market power. d) Externalities.
Which of the following is a market transaction?
A. A stock increases in value over the 30 years that it is owned. B. A radio station changes its programming from classical to rock. C. Weather destroys a farmer's crops, leaving the farmer unable to buy groceries. D. A college student purchases a laptop computer.