Moving up the Phillips curve in the short run will cause the entire curve to shift upward in the long run
a. True
b. False
A
You might also like to view...
When a banker records how many dollars each of his borrowers owes the bank, money is serving as a
A. store of value. B. medium of exchange. C. legal tender. D. unit of account.
Refer to Figure 17-1. If Dale can sell her doilies at $2 each, what is the marginal product of the 5th worker?
A) $28 B) 28 doilies C) $56 D) 14 doilies
Your mayor wants voters in your town to approve a $24 million per year property tax break for Acme Manufacturing, in order to keep Acme from moving their operations out of state. Acme only produces output, and has a payroll, worth $6 million per year. In terms of income multiplier effects, under what circumstances might this tax break be a good idea?
What is a black market, and under what economic condition is it most likely to thrive?
What will be an ideal response?