In the decade of the ________, A.W. Phillips plotted data for Great Britain which revealed a relationship between rates of changes in wages versus unemployment rates
Economists later discovered other "Phillips Curve" relationships between rates of inflation versus unemployment rates.
A) 1930s B) 1940s C) 1950s D) 1960s
C
You might also like to view...
A snack shop inside a hotel in a busy city has a monopoly on food sales if it is the only food vendor in the hotel that is open 24 hours a day
Indicate whether the statement is true or false
Consolidation activity in the hospital industry
a. has slowed due to government regulations. b. has created a large number of nationwide for-profit hospital chains. c. has occurred almost exclusively at the local level. d. occurs for same reasons that cause consolidation in other industries.
If we wanted to prove that macaroni is an inferior good, we would test the __________ of macaroni and get a __________
a. cross-price elasticity; negative number b. income elasticity; number less than 1 c. income elasticity; positive number d. price elasticity of demand; number greater than negative 1 e. income elasticity; negative number
The theory of public choice assumes that individual behavior in the political arena is motivated primarily by
a. the electorate b. social welfare c. public interest d. altruism e. self-interest