Economies with higher expected inflation rates have short-run Phillips curves that are
A) further to the right.
B) upward sloping.
C) further to the left.
D) closer to being horizontal.
E) always vertical.
A
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Structural unemployment results from a lack of education and training
a. True b. False Indicate whether the statement is true or false
Which of the following could result in a negative network externality?
a. snob effect; standardization b. bandwagon effect; congestion c. bandwagon effect; standardization d. snob effect; congestion
Two characteristics of a modern economy are
A. barter and self-sufficiency. B. specialization and exchange. C. a low standard of living a high poverty rate. D. self-sufficient workers and very little international trade.
Consider Figure 12.3. If Becky and David could coordinate their decisions then:
A. they would each earn profits of 100. B. they would both choose to charge a low price and earn profits of 90 each. C. they would both choose to charge a high price and earn profits of 90 each. D. they would both choose to charge a high price and earn profits of 70 each.