British economist A. H. Phillips published his famous paper on the relationship between inflation and unemployment during ______.
a. the Great Depression
b. World War II
c. the 1950s
d. the 2008 financial crisis
c. the 1950s
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Real GDP per person in the country of Flip is $10,000, and the growth rate is 10 percent a year. Real GDP per person in the country of Flap is $20,000 and the growth rate is 5 percent a year
When will real GDP per person be greater in Flip than in Flap? A) in 2 years B) in 15 years C) never D) in 10 years
Which of the following statements is true?
a. TC = TFC ? TVC. b. AVC = TC / Q. c. TFC = TC ? TVC. d. MC equals the change in ATC divided by the change in Q.
In international finance, speculation involves: ยท
a. not being able to make a commitment to buy or sell. b. taking a risk by purchasing (or selling) a foreign currency asset,holding it in anticipation of a rate increase (decrease). c. simultaneously buying several currencies to ensure that at least one will rise in value. d. avoiding risk of loss by offsetting an obligation to buy a foreign currency by locking in a contract to sell it at the same time.
Figure 11.4Figure 11.4 depicts demand and costs for a monopolistically competitive firm. If the firm's demand curve shifts to the left as more firms enter the market:
A. the firm's average cost will be lower at the new profit maximizing output level. B. the firm's marginal cost will be higher at the new profit maximizing output level. C. the firm's marginal revenue will remain the same at the mew profit maximizing output level. D. the firm's marginal cost will remain the same at the new profit maximizing output level.