Which of the following correctly describes the Phillips curve?
a. A curve showing the inverse relationship between interest rates and the quantity of money demanded.
b. A curve showing the direct relationship between interest rates and the quantity of money demanded.
c. A curve showing the direct relationship between the inflation rate and the unemployment rate.
d. A curve showing the inverse relationship between the inflation rate and the unemployment rate.
d. A curve showing the inverse relationship between the inflation rate and the unemployment rate.
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If supply is perfectly elastic, a sales tax imposed on sellers is paid by
A) only the buyers. B) only the sellers. C) both the buyers and sellers. D) None of the above answers is correct.
If the required reserve ratio is .25, demand deposits are $400 million, and total reserves are $150 million, then excess reserves are
A) $25 million. B) $50 million. C) $75 million. D) $125 million.
Characteristics shared by monopolistically competitive markets and perfectly competitive markets include: a. differentiated products. b. advertising
c. many sellers. d. brand identity.
The differences in the desirability of different jobs within a company could give rise to a compensating differential between workers
a. True b. False Indicate whether the statement is true or false