The upward slope of the MP curve indicates that
A) the central bank lowers real interest rates when inflation rises.
B) the central bank raises real interest rates when inflation falls.
C) the central bank raises nominal interest rates when inflation rises.
D) the central bank raises real interest rates when inflation rises.
D
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If the Luddites had succeeded in ________ the introduction of labor-saving machinery, economic growth in Great Britain may have been ________.
A. blocking; more rapid B. blocking; slower C. promoting; slower D. promoting; more rapid
Explain the difference between an open economy and a closed economy
What will be an ideal response?
Which of the following statements is not true?
A. There is a wage premium for investing in high levels of education. B. The wage premium of men and women college graduates has been increasing over time. C. Better-educated individuals are more productive. D. Public policy initiatives that support on-the-job training have been met with mixed results.
In competing with rivals, oligopolistic firms will tend to use:
A. advertising because it is less easily duplicated than price cuts. B. price wars because they will increase the profits of firms. C. collusion because it is a legal way to increase market share. D. price cuts because they do not add to costs like advertising.