The shift of the short-run Phillips curve in the figure above is the result of
A) an increase in the natural unemployment rate.
B) a decrease in the expected inflation rate.
C) a decrease in the actual inflation rate.
D) an increase in the expected inflation rate.
E) a decrease in the natural unemployment rate.
B
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At any wage rate, the quantity of welders willing to work is less than the quantity of tomato pickers. Why?
What will be an ideal response?
Markets are
A) a mechanism through which prices of goods and services are determined by the forces of supply and demand. B) specific geographic locations. C) hypothetical constructs used to analyze how people form their tastes and preferences. D) places where people can inspect goods and services carefully.
The speed at which abnormal net income falls to zero is called
A) the balance sheet exposure. B) the depreciation rate. C) the decay rate. D) the exchange rate.
With a given plant size, an increase in output will NOT result in an increase in
A. average fixed cost. B. total cost. C. average variable cost. D. total fixed cost.