According to Friedman and Phelps, the unemployment rate is above the natural rate when actual inflation
a. is greater than expected inflation.
b. is less than expected inflation.
c. equals expected inflation.
d. low whether its greater than or less than expected.
b
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Refer to Table 4-4. If a minimum wage of $10.50 an hour is mandated, what is the quantity of labor supplied?
A) 400,000 B) 370,000 C) 340,000 D) 60,000
Any increase in the present value of taxes for the consumer implies
A) an increase in lifetime wealth and an increase in current labor supply. B) an increase in lifetime wealth and a decrease in current labor supply. C) a decrease in lifetime wealth and an increase in current labor supply. D) a decrease in lifetime wealth and a decrease in current labor supply.
Financial intermediation supports economic growth and development by bringing together numerous savers and investors in growing and increasingly complex markets
Indicate whether the statement is true or false
The marginal rate of substitution is measured along
A. a given budget line. B. a given indifference curve. C. the total utility curve. D. the demand curve.