For many years country A has had a lower unemployment rate than country B. According to the long-run Phillips curve which of the following could explain this? Country A has
a. maintained a higher money supply growth rate.
b. maintained a lower money supply growth rate.
c. a higher minimum wage than country B.
d. a lower minimum wage than country B.
d
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What are the three types of advocacy?
Suppose in a purely competitive market that American firms consider labor costs to be mostly variable while Japanese firms consider labor costs to be mostly fixed
What implication would this have for the viability of firms in each country if they compete with one another in the short run? What about the long run?
"The Great Depression was caused by the 1929 stock market crash.". Which of the following is an indication that this statement is false?
a. The stock market had regained most of its losses from the October 1929 crash by April 1930. b. The recessionary conditions actually began in the mid-1920s before the stock market crash. c. The Great Depression was a result of government failure to intervene in market activity. d. Economic theory indicates that a reduction in stock prices would reduce the consumer price index and thereby stimulate output and employment.
Taxi medallions were issued in New York City to:
A. increase the wages of taxi drivers. B. help new immigrants find jobs. C. raise revenue for the city. D. help commuters afford transportation.