The long-run Phillips curve:
a. is horizontal.
b. is the same as the short-run Phillips curve.
c. displays a positive relationship rather than an inverse relationship.
d. is exponential.
e. is vertical.
e
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Lowering the individual income tax rate will increase household disposable income and consumption spending
Indicate whether the statement is true or false
An increase in the corporate profits tax would shift the demand for loanable funds curve to the left
a. True b. False
The poverty line is an absolute standard and is based on the cost of providing an adequate diet
a. True b. False Indicate whether the statement is true or false
Kara and Kyle are competing sockeye salmon fishers. Both have been allocated ITQs that limit their catch to 2,000 tons of sockeye salmon each. Kara's cost per ton is $8; Kyle's cost per ton is $12. Refer to the information given and assume that
the market price of sockeye salmon is $15 per ton. If Kara pays Kyle $5 per ton for his ITQs, and if she then catches her new limit of 4,000 tons, their combined profit would be: A. $18,000. B. $22,000. C. $20,000. D. $4,000.