Which economist(s) first identified an inverse relationship between inflation and unemployment?
a. Robert Lucas and Thomas Sargent.
b. W. Phillips.
c. Robert Barro.
d. Paul Samuelson.
e. Arthur Laffer.
b
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Trade agreements help to lower barriers to trade
a. True b. False
The difference between producer surplus and profit is always the associated
A) opportunity costs. B) total costs. C) variable costs. D) fixed costs.
The cross-price elasticity of demand is measured by the
a. change in quantity demanded of one good divided by the change in price of another good b. percentage change in quantity demanded of one good divided by the percentage change in its price c. percentage change in demand for one good divided by the percentage change in income d. percentage change in quantity supplied of one good divided by the percentage change in the price of another good e. percentage change in quantity demanded of one good divided by the percentage change in price of another good
an increase in marginal tax rates will
What will be an ideal response?