The Phillips curve
a. illustrates the economy's production possibilities
b. measures the Fed's willingness to stick with a particular interest rate target
c. represents the Fed's choices between inflation and unemployment
d. demonstrates the need for a zero inflation rate
e. explains the natural rate of unemployment
C
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Inflation adjusted hourly wages for the average hourly worker is _______ today than it was in 1973.
A. higher B. lower C. about the same
Which of the following is not an example of inequality of opportunity?
a. The Indian caste system. b. The Japanese public education system. c. Jim Crow laws in the United States. d. South African apartheid.
If the quantity demanded for labor is more than the quantity supplied, there will be unemployment
a. True b. False Indicate whether the statement is true or false
Producers are willing to offer greater quantities for sale at higher prices because
What will be an ideal response?