The Phillips curve will shift down with ________ or ________
A) a positive supply shock; an increase in expected inflation
B) a positive supply shock; a decrease in expected inflation
C) a negative supply shock; an increase in expected inflation
D) a negative supply shock; a decrease in expected inflation
B
You might also like to view...
Which of the following is true of the relationship between the marginal cost function and the average total cost and average variable cost functions?
A) If MC is greater than ATC and AVC, then ATC and AVC will increase. B) The ATC and AVC curves intersect the MC curve at minimum MC. C) The MC curve, ATC curve, and AVC curve all intersect at the same point. D) At each level of output, MC is equal to difference between AVC and ATC.
Why doesn’t a competitive firm reduce its price below the industry price to increase sales?
What will be an ideal response?
The rule of reason was applied in the:
a. Standard Oil case. b. U.S. Steel case. c. American Tobacco Trust case. d. All of these.
All other factors held constant, if the price of game consoles rise, the demand for gaming titles will
a. shift to the left, because they are normally used together. b. remain constant. c. shift to the right, because they are normally used together. d. shift to the right, because they are substitutes.