If the Phillips curve represents a "________ relationship," then the trade-off between unemployment and inflation is permanent
A) cyclical B) structural C) frictional D) dynamic
B
You might also like to view...
Refer to Figure 9.5. If the government establishes a price floor of $2.50 and farmers grow only the amount of berries that will be sold, total consumer and producer surplus will be
A) $1.50. B) $300. C) $450. D) $500. E) $600.
Monopolists can earn positive economic profits in the long run because they are more productively efficient than perfectly competitive firms
a. True b. False
If mining companies are indifferent between operating and not operating a quarry, that quarry is
a. discounted. b. usurious. c. marginal. d. nonexcludable.
Which of the following is an example of an externality?
a. Annie purchases a new dress. b. Antonio's dog barks loudly during the night, waking his neighbors. c. Harold sells a book to Cathy, who reads the book and then gives it to James as a gift. d. Gloria watches a scary movie.