Which of the following is a true statement?
A. There is a long-run trade-off between inflation and unemployment.
B. There is no trade-off between inflation and unemployment in the long run.
C. The short-run Phillips Curve is horizontal.
D. The long-run Phillips Curve is horizontal.
B. There is no trade-off between inflation and unemployment in the long run
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Which of the following tools does the Fed use to pursue its objectives?
A) It influences short-run and long-run interest rates. B) It provides loans to new firms and businesses at extremely low rates of interest. C) It determines the efficient level of government spending. D) It influences market prices through price ceilings and price floors.
________ are profits that accrue to whomever has the right to import the quota restricted good
A) Quota licenses B) Quota rents C) Quota prices D) None of the above.
The 1994 book by Murray and Herrnstein, The Bell Curve, was about
a. government debt. b. the intelligence factor. c. capital growth. d. military readiness.
The ________ Act extended the government's authority to ban vertical and conglomerate mergers.
A. Celler-Kefauver B. Federal Trade Commission C. Clayton D. Sherman