The Phillips curve shows
A) a positive relationship in the long run between the rate of inflation and the rate of unemployment.
B) a negative relationship between the inflation rate and the unemployment rate, at least in the short run.
C) a positive relationship between contractionary monetary policy and higher price levels.
D) a positive relationship between price stability and constant, small-increment changes in the fiscal policy on the part of the Fed.
Ans: B) a negative relationship between the inflation rate and the unemployment rate, at least in the short run.
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Indicate whether the statement is true or false
Buyers of a product will bear the larger part of the tax burden, and sellers will bear a smaller part of the tax burden, when the
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Command-and-control approaches to reducing pollution can be criticized on the grounds that they may be all of the following EXCEPT
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