As the economy moves down and to the left along a short-run aggregate supply curve, it:
a. moves up and to the right along the short-run Phillips curve.
b. moves up and to the left along the short-run Phillips curve
c. moves down and to the left along the short-run Phillips curve.
d. moves down and to the right along the short-run Phillips curve.
d
You might also like to view...
The first run on a British bank since 1866 occurred in August 2007 at which bank?
A) Liberty Mutual B) Liberty Rock C) Northern Rock D) Bank of England E) First Savings and Loan
Everything else held constant, a decrease in the required reserve ratio on checkable deposits will mean
A) a decrease in the money supply. B) an increase in the money supply. C) a decrease in checkable deposits. D) an increase in discount loans.
Define the following terms briefly and concisely
a. stock b. bond c. portfolio diversification d. speculation e. random walk
Which of the following is the most likely outcome of minimum wage laws?
a. an increase in both the quantity of labor supplied by workers and the quantity of labor demanded by firms b. an increase in the quantity of labor supplied by workers and a decrease in the quantity of labor demanded by firms c. a decrease in the quantity of labor supplied by workers and an increase in the quantity of labor demanded by firms d. a decrease in both the quantity of labor supplied by workers and the quantity of labor demanded by firms