The short-run Phillips curve is a curve that shows the relationship, other things being constant, between ________ and ________
A) the inflation rate; the nominal interest rate
B) the inflation rate; the expected inflation rate
C) the unemployment rate; real GDP
D) potential GDP; the natural unemployment rate
E) the inflation rate; the unemployment rate
E
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The table above shows a nation's production possibilities frontier. The opportunity cost of a robot between combination D and E is
A) 1/4 of a pizza. B) 34 pizzas. C) 30 pizzas. D) 4 pizzas. E) undefined because neither point is production efficient.
When you buy a corporate bond, you are
A. borrowing funds from the corporation. B. lending funds to the corporation. C. selling an ownership right in the corporation. D. acquiring an ownership right in the corporation. E. b and d
Explain why a firm should continue to operate in the short run so long as market price is greater the the firm's average variable cost at the profit-maximizing level of output
What will be an ideal response?
A situation in which the price of an asset rises significantly above the asset's fundamental value is referred to as
A) asset liquidity. B) dissipation. C) a bubble. D) magnification.