The Phillips curve describes the relationship between
A) output growth and unemployment.
B) inflation and output growth.
C) output growth and money supply.
D) inflation and unemployment .
D
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To answer the next question use the information in the table below which illustrates the multiplier process resulting from an autonomous increase in investment by $5. Change in IncomeChange in ConsumptionChange in SavingsAssumed increase in investment$5.00 $1.25Second round $2.81 All other rounds 8.44 Totals 5.00The total change in income resulting from the initial change in investment will be
A. $15. B. $5. C. $10. D. $20.
The figure above shows the market for tires. According to the figure, the price elasticity of demand is ________ the price elasticity of supply
A) greater than B) equal to C) less than D) not comparable to E) More information is needed to determine if the price elasticity of demand is greater than, equal to, less than, or comparable to the price elasticity of supply.
The balance owed on credit cards in the United States in 2014 was $880 billion. When consumers pay off this balance in full,
A) M1 will decrease by $880 billion. B) M1 will remain unchanged but M2 will decrease by $880 billion. C) neither M1 nor M2 will change. D) M1 will increase by $880 billion.
Use the following demand and supply functions: Demand:Qd = 900 - 60PSupply:Qs = -200 + 50PIf the price is currently $11, there is a
A. shortage of 240 units. B. surplus of 350 units. C. shortage of 700 units. D. surplus of 110 units.