Rational expectations theory would imply that the graphical relationship between unemployment and inflation indicated by the Phillips curve is ____ in the short-run
a. vertical
b. positively sloped
c. negatively sloped
d. horizontal
a
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Kansas Power and Light, the only supplier of electricity in Kansas, is an example of a firm in what type of market?
A) a monopoly market B) an oligopolistic market C) a perfectly competitive market D) a monopolistically competitive market
Suppose that the nominal exchange rate between the U.S. dollar and the Mexican peso is 0.10 dollars per peso. If Mexico's inflation is 10 percent and the United States' inflation is 0 percent, from the U.S. point of view, the real exchange rate
A) appreciates to 0.11 dollars per peso. B) depreciates to 0.11 dollars per peso. C) appreciates to 0.09 dollars per peso. D) depreciates to 0.09 dollars per peso. E) appreciates to 0.2 dollars per peso.
Refer to the above figure. Use the DD-AA model to examine and compare the response of an economy under fixed and floating exchange rate to a temporary fall in foreign demand for its exports
What will be an ideal response?
What does a study of immigration figures before 1921 indicate?
(a) An overwhelming majority of immigrants came from the British Isles. (b) Voluntary immigrations slowed as 1921 approached. (c) The diversification of immigrants increased since the colonial period of U.S. history. (d) It is not possible to link immigration patterns and growth in the U.S. economy.