The traditional Phillips Curve suggests a trade-off between:
A. price stability and income equality.
B. the level of unemployment and inflation.
C. unemployment and income equality.
D. economic growth and full employment.
B. the level of unemployment and inflation.
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Some economists and policymakers who are in favor of government-provided health care believe that providing health care will generate
A) more adverse selection. B) additional moral hazard. C) positive externalities. D) greater asymmetric information.
If industry sales are $2,000, and the top four firms have sales of $170, $140, $100, and $80, respectively, what will be the four-firm concentration ratio?
A) 49 percent B) 24.5 percent C) 490 percent D) 2.45 percent
Which of the following, other things the same, would make the price level decrease and real GDP increase?
a. long-run aggregate supply shifts right b. long-run aggregate supply shifts left c. aggregate demand shifts right d. aggregate demand shifts left
Based on Figure 6.1, given a tariff of $0.25 per bushel on soybean imports, how much will domestic production increase?
A) Domestic firms will increase output by 10 million bushels. B) Domestic firms will increase output by 20 million bushels. C) Domestic firms will increase output by 70 million bushels. D) Domestic firms' production will not be changed by the tariff.