According to the Phillips curve, what is the relationship between unemployment and inflation?
a. There is no relationship.
b. There is a direct relationship.
c. There is an inverse relationship.
d. There is an equilibrium relationship.
c. There is an inverse relationship.
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GDP includes:
A. the negative attributes from erosion and deforested landscape. B. all quality improvements resulting from higher quality goods replacing inferior goods. C. the cleaning-up expenses associated with pollution. D. the value of leisure time.
(Consider This) Ticket scalping:
A. imposes economic losses on both buyers and sellers. B. creates economic gains for both buyers and sellers. C. imposes losses on buyers but creates gains for sellers. D. imposes losses on sellers but creates gains for buyers.
Advertising can create an image about a product inducing people to try the product.
Answer the following statement true (T) or false (F)
To increase the money supply
A. the Federal Reserve should reduce its loans to banks. B. the Federal Reserve should buy government securities. C. the commercial banks should reduce their loans. D. the Federal Reserve should sell government securities.