The origin of the Phillips curve is the idea that an increase in
A. AD will lead to more inflation and more unemployment.
B. AD will lead to more inflation and lower unemployment.
C. AS will lead to lower inflation and lower unemployment.
D. AS will lead to less inflation and higher unemployment.
Answer: B
You might also like to view...
Consider a closed economy without the government. If the GDP of the economy is $63,000 and the consumption in the economy is $45,000, the savings rate in the economy is:
A) 35.75%. B) 28.57%. C) 16.86%. D) 24%.
The ratio of debt to GDP is much higher in the United States than in most other industrialized nations
Indicate whether the statement is true or false
Which of the following is an explicit cost of production?
A. the electric bill B. wages paid to workers C. purchases of raw material D. Only answers A and B are explicit costs because the purchases of raw material is only an opportunity cost. E. Answers A, B, and C are all
A firm's cost curve is determined by
A) congressional laws. B) whether the firm hires engineers or not. C) natural laws. D) the firm's production function.