According to the short-run Phillips curve, the cost of reducing unemployment is an increase in the rate of inflation.
Answer the following statement true (T) or false (F)
True
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Because of recent corporate downsizing, Chuck loses his job. The most likely effect on his consumption function is a(n)
a. movement downward along the function. b. shift upward of the function. c. shift downward of the function. d. increase in consumption expenditures.
What is the main potential benefit of water markets?
a. More water is available for ecological uses b. Water is used for its most highly-valued purposes c. Underground aquifers can become replenished d. More water is available for lower-income households e. Water use is managed by a centralized agency
An increase in aggregate supply increases the real domestic output and reduces the price level effects from an increase in aggregate demand.
Answer the following statement true (T) or false (F)
Lobbying actions that seek government legislation to provide tax breaks to specific corporations would be an example of:
A. How the median-voter model works B. How political choices are bundled C. Rent-seeking behavior D. The paradox of voting