Factors such as _______ shocks and changes in inflationary expectations cause the Phillips curve to shift.
a. policy
b. supply
c. demand
d. trade
b. supply
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Each of the following is an example of an economic resource except
A. land. B. money. C. capital. D. labor.
Suppose you choose an investment that has historically generated an averagenominal return of 5 percent per year. Explain how inflation and risk may affect your future real rate of return on this investment
What will be an ideal response?
A price index is:
a) a comparison of the current price of a market basket to a fixed point of reference. b) a comparison of real GDP in one period relative to another. c) the cost of a market basket of goods and services in a base period divided by the cost of the same market basket in another period. d) a ratio of real GDP to nominal GDP.
Use the following table to answer the question below.PriceQuantity SuppliedQuantity Demanded$101002951115027512190250132202201424518015265135If a technological advance lowers production costs such that the quantity supplied increases by 60 units of this product at each price, the new equilibrium price would be
A. $12. B. $11. C. $14. D. $13.