In the long run, a decrease in the money supply growth rate
a. reduces expected inflation so the long-run Phillips curve shifts left.
b. reduces expected inflation so the short-run Phillips curve shifts left.
c. Both A and B are correct.
d. None of the above is correct.
b
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Exchange Rates
Opportunity cost is the expected value of the alternative not chosen.
a. true b. false
Refer to Table 9-6. New loans made in Stage 1($C) amount to
A) $100. B) $200. C) $600. D) $800.
The following table shows the units of output a worker can produce per month in country A and country B. Country Food Electronics Country A 20 5 Country B 12 4 Which of the following statements about absolute advantage is true?
A. Country A has the absolute advantage in the production of food while country B has the absolute advantage in the production of electronics. B. Country A has the absolute advantage in the production of both food and electronics. C. Country B has the absolute advantage in the production of both food and electronics. D. All of these.