According to the monetarists, when the expected rate of inflation rises, the short-run Phillips curve
a. shifts upward.
b. shifts downward.
c. is unaffected.
d. None of the above
A
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The Williams' household uses natural gas heat, the Reynolds' use a wood stove. Whose household heating system is most efficient?
A) Without more information, the question is meaningless. B) Williams' C) Reynolds' D) It depends only on the BTU's (the amount of heat produced) per unit of heat-source input.
Answer the following statement(s) true (T) or false (F)
1. International trade is more important in some countries than it is in others. 2. Transportation is among the leading U.S. export sectors. 3. U.S. exports and imports have been declining since the mid-twentieth century. 4. Most of the early international trading partners of the United States were5. Neither Canada nor Mexico is among the leading U.S. international trading partners. in Europe.
How do income redistribution programs affect equality and efficiency?
What will be an ideal response?
Which component of consumption has a negative or indirect relationship with consumption?
A. Real income B. Wealth C. Expected future income D. Interest rates