A nation's consumption possibilities frontier is
a. always the same as its production possibilities frontier
b. never the same as its production possibilities frontier
c. the same as its production possibilities frontier only if there is advantageous trade
d. the same as its production possibilities frontier only if there is no international trade
e. usually lower than its production possibilities frontier
D
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In the United States there is evidence of:
A. increasing wage inequality. B. an increase in the proportion of the population over 16 employed since 2000. C. an increase in in job creation since 2000. D. increasing wage equality.
The long-run Phillips curve:
a. is horizontal. b. is the same as the short-run Phillips curve. c. displays a positive relationship rather than an inverse relationship. d. is exponential. e. is vertical.
Whether prices or real GDP exhibit the greater response to increased aggregate demand depends on the degree of capacity utilization in the economy
a. True b. False Indicate whether the statement is true or false
Technically, the ECB has a dual mandate of price stability and support of the European economies; but in practice, it seems to favor ______ over ______.
A) lowering unemployment; controlling inflation B) promoting equality; lowering unemployment C) price stability; economic performance, growth, and employment D) women's rights; lower taxes on small business