During the 1960s and early 1970s, economists believed that the Phillips curve indicated
a. that higher inflation was the price for more unemployment.
b. that higher levels of employment could be achieved with lower inflation.
c. a menu of choices for policy makers.
d. All of the above are correct.
c
You might also like to view...
In the prisoners' dilemma, each player is ________ regardless of the other players' actions
A) forced to confess B) forced to deny C) better off confessing D) better off denying E) going to go free
_____ is an arrangement between an attorney and the plaintiff, in which the latter agrees to pay a certain fraction of the money he/she wins to the former
a. Hourly billing b. Capitation c. Contingency d. Unitization
Suppose Susan can wash three windows per hour or she can iron six shirts per hour. Paul can wash two windows per hour or he can iron five shirts per hour
a. Susan has an absolute advantage over Paul in washing windows. b. Susan has a comparative advantage over Paul in washing windows. c. Paul has a comparative advantage over Susan in ironing shirts. d. All of the above are correct.
Which one of the following is a source of conflict between owners and managers?
A. Managers are reluctant to lay off their friends and want to empire-build. B. Owners are reluctant to lay off their friends and want to empire-build. C. Managers are often reluctant to increase the size of the firm. D. Owners are reluctant to lay off the manager and want to empire-build.