According to the Phillips curve, policymakers can reduce inflation by

a. contracting aggregate demand. This contraction results in a temporarily higher unemployment rate.
b. contracting aggregate demand. This contraction results in a temporarily lower unemployment rate.
c. expanding aggregate demand. This expansion results in a temporarily lower unemployment rate.
d. expanding aggregate demand. This expansion results in a temporarily higher unemployment rate.


a

Economics

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Which of the following statements is true of the relationship among the average cost functions?

A) ATC = AFC - AVC B) AVC = AFC + ATC C) AFC = ATC + AVC D) AFC = ATC - AVC

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The circular flow model shows what households buy and sell in the resource market

Indicate whether the statement is true or false

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Keynes used the term "animal spirits" to refer to

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