Who still has to economize?
A) The senior citizen who receives a 10% discount at the local coffee shop
B) The day-after-Christmas shopper who enjoys sales of up to 70% on holiday merchandise
C) Bill Gates
D) All of the above.
E) None of the above.
D
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The short-run Phillips curve shows ________ between the unemployment rate and the inflation rate, and the long-run Phillips curve shows ________ between the unemployment rate and the inflation rate
A) a positive relationship; a negative relationship B) a negative relationship; a positive relationship C) no relationship; a negative relationship D) a negative relationship; no relationship E) no relationship; no relationship
Which of the following is not an advantage of starting a new business as a corporation?
A) separation of ownership and business liability B) possibility of double taxation C) ability to share risks D) enhanced ability to raise funds
A leftward shift in supply could be caused by: a. an improvement in productive technology. b. a decrease in income
c. some firms leaving the industry. d. a fall in the price of inputs to the industry.
Which of the following will not lead to a leftward shift in the SRAS curve?
A) an increase in wage rates B) an increase in the prices of nonlabor inputs C) an increase in productivity D) an adverse supply shock