The Phillips curve shows:
a. the relationship between the interest rate and the inflation rate
b. the relationship between the inflation rate and the rate of unemployment.
c. the relationship between the unemployment rate and the level of real GDP.
d. the relationship between the growth rate and the inflation rate.
e. the relationship between the rate of unemployment and the growth rate.
b
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Consider the monopolist depicted in the figure above. When it maximizes its profit, a single-price monopolist sets a price of ________ per unit
A) $4 B) $7 C) $9 D) $11
When drawn against the real interest rate, output supply increases if
A) current government expenses increase. B) future government expenses increase. C) current total factor productivity increases. D) the money supply increases.
The perfectly competitive model is most likely to apply to a labor market in which
a. many well-informed firms must negotiate with one dominant labor union b. there are a few firms, and they are uninformed about the attributes of each worker c. there are many workers currently in the market who must negotiate with one dominant firm d. there are many well-informed workers and firms, and each worker appears the same to firms e. one dominant labor union must negotiate with one dominant firm
Refer to Table 21.3 below:Table 21.3Units of LaborUnits of OutputMPP00 1 30266 3 304116 What is the marginal physical product of the fourth unit of labor in Table 21.3?
A. 5. B. 116. C. 29. D. 20.