Short-run movements along the Phillips curve
a. remind us of the dangers of confusing various types of unemployment
b. may determine long-run shifts of the same curve
c. are usually brief and dramatic
d. respond to different assumptions about consumer confidence
e. lead to long-run movements along the same curve
B
You might also like to view...
Farmer Jones knows that the marginal cost to produce a bushel of tomatoes is $5 per bushel. He also knows that a consumer is willing to pay a maximum of $9 for the bushel. The price of the bushel is $6 and Farmer Jones sells his bushel for $6
On this bushel, Farmer Jones earns a producer surplus equal to A) $1. B) $3. C) $5. D) $6.
If national saving decreases,
A) the sum of domestic investment and foreign investment must increase. B) the sum of domestic investment and net exports must increase. C) the sum of domestic investment and foreign investment must decrease. D) foreign investment must increase to cover the loss.
NIPA means
A) New Income and Price Accounting. B) National Investment and Productivity Approach. C) Neutral Increase of Production Allocation. D) National Income and Product Accounts.
A competitive firm sells its output for $30 per unit. Is the firm's marginal revenue less than, equal to, or greater than $30?