If the short-run Phillips curve has a very flat slope, the
a. structural deficit will grow during inflation.
b. structural deficit will fall during recession.
c. inflation costs of reducing unemployment are relatively low.
d. inflation costs of reducing unemployment are relatively high.
c
You might also like to view...
Look at today's Wall Street Journal. What is the leading economic news story? With which of the big economic questions does it deal and what tradeoffs does it discuss or imply?
What will be an ideal response?
The aggregate supply curve shows the total quantity of output that firms are willing and able to supply at a given inflation rate. This is the same relationship that is shown by the
A) aggregate expenditure curve. B) Phillips curve. C) MP curve. D) IS curve.
The current international financial system is a managed float system
a. True b. False
____ is a school of economic thought which uses equation of exchange to analyze the macro economic data
a. Mercantilism b. Monetarism c. Supply side economics d. Keynesianism