Based on the graph showing the Phillips curve, if a point C were added and it had a lower RGDP than point A, it should also have ______.
a. a lower inflation rate than point A
b. the same inflation rate as point A
c. a higher unemployment rate than point A
d. the same unemployment rate as point A
a. a lower inflation rate than point A
You might also like to view...
Suppose that when the price per ream of recycled printer paper rises from $4 to $4.50, the quantity demanded falls from 800 to 600 reams per day
Using the midpoint formula, what is the price elasticity of demand (in absolute value) over this range? A) 0.003 B) 0.41 C) 2.43 D) 4
If a firm has two plants, one located in desirable Scenic Springs and the other located in the undesirable Swamp Lands, the workers in Scenic Springs will be paid ________ than the workers in Swamp Land and the difference in wages is referred to as a ________.
A) less; compensating wage differential B) less; worker equity payment C) more; worker equity payment D) more; compensating wage differential
If the simplified version costs $2 million and its probability of success is 75%, whereas the cost of the complicated version is $10million, what is the minimum probability of success for the complicated version that would make the firm indifferent between the two software?
a. 0.3 b. 0.31 c. 0.32 d. 0.33
Select the letter of the diagram in Figure 28.1 that best represents the effect of each event on the United States wheat market, ceteris paribus: A bumper wheat crop in the midwest. (See Figure 29.4.)
A. a. B. b. C. c. D. d.