In the long run, the Phillips curve is a ________ at ________
A) horizontal line; 0% inflation
B) vertical line; the natural rate of unemployment
C) vertical line; the expected rate of inflation
D) negatively sloped line; the intersection of aggregate demand and short-run aggregate supply
B
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The duration of unemployment is not a leading indicator
a. True b. False Indicate whether the statement is true or false
Which of the following arguments is not used by promoters of globalization as one of the reasons why free trade and international investment result in higher standards of living?
a. Free trade helps developing countries. b. International organizations represent governments and people, not the interests of corporations. c. There is no convincing evidence that globalization occurs at the expense of the environment. d. There is no convincing evidence that globalization occurs by encouraging harmful labor practices. e. Globalization brings better cultural practices to countries that have obsolete cultural traditions.
GDP includes
a. the value of goods and services such as soil erosion and deforested landscape b. the value of all personal property c. the cleaning-up expenses associated with pollution d. the value of leisure time e. the illegal activities related to the underground economy
Preferred Budgets ($ in millions)45678910Number of voters (in thousands)516253022193Table 15.3Table 15.3 shows the preferred budget for a new performance center and the number of voters in a community who prefer that budget. If Dawn proposed $6 million while Terry proposed $9 million, Dawn will get ________ thousand votes while Terry gets ________ thousand votes.
A. 46; 44 B. 46; 74 C. 76; 44 D. The outcome cannot be predicted.