Comparing the short-run Phillips curve and the long-run Phillips curve, we see that there is
A) no relationship between the two curves.
B) no tradeoff in either curve.
C) a tradeoff in both curves.
D) only a long-run tradeoff between inflation and unemployment but not a short-run tradeoff.
E) only a short-run tradeoff between inflation and unemployment but not a long-run tradeoff.
E
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Which part or parts of the following statement describe each of the three functions of money?
"A pair of prescription glasses costs $250. I am spending $250 on one pair right now, and am saving $250 to buy a second pair in 6 months when the new styles are introduced."
A surplus will occur in a market if:
A. the quantity supplied at a given price exceeds the quantity demanded at that price. B. the quantity demanded at a given price is less than the quantity supplied at that price. C. there are not enough sellers at the prevailing price. D. there are too many buyers at the prevailing price.
Which of the following is true if a market is in equilibrium?
a. price will be rising b. price will be falling c. quantity demanded is greater than quantity supplied d. quantity demanded is equal to quantity supplied e. quantity demanded is less than quantity supplied
The discount rate is
a. the interest rate the Fed charges banks. b. one divided by the difference between one and the reserve ratio. c. the interest rate banks receive on reserve deposits with the Fed. d. the interest rate that banks charge on overnight loans to other banks.