More flexible labor markets will shift
a. both the long-run Phillips curve and the long-run aggregate supply curve to the right.
b. both the long-run Phillips curve and the long-run aggregate supply curve to the left.
c. the long-run Phillips curve to the right and the long-run aggregate supply curve to the left.
d. the long-run Phillips curve to the left and the long-run aggregate supply curve to the right.
d
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A nation can produce at a point outside its PPF
A) when it trades with other nations. B) when it produces inefficiently. C) when its PPF is bowed out. D) never.
Which of the following would provide a reasonable benchmark for how much you should pay monthly into a "real world" savings account?
A) Sum your unexpected expenditures over the last 12 months, divide this figure by 12, and allocate this amount into the savings account regularly. B) Sum your unexpected expenditures during the last month, and if this total is greater than the additional amount you can borrow on your credit cards, you do not need a "real world" savings account. C) Sum your unexpected expenditures last month and allocate this amount into the savings account regularly. D) Sum your unexpected expenditures over the last 12 months, divide this figure by 12, and if this total is less than the additional amount you can borrow on your credit cards, you do not need a "real world" savings account.
When we are in a recession, according to the sophisticated quantity theorists, an increase in M will lead to
A. a decrease in V. B. an increase in V. C. an increase in PQ, with most or all of that increase in P. D. an increase in PQ, with most or all of that increase in Q.
A shift to the left by the IS curve can be achieved by all of the following, EXCEPT a(n):
A) decrease in government spending. B) increase in taxes. C) increase in the foreign interest rate. D) increase in the domestic price level.