According to the short-run Phillips curve, which of the following would result in high rates of unemployment?
A) strong increases in aggregate demand B) strong increases in aggregate supply
C) a higher inflation rate D) a lower inflation rate
D
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What can be said about the market price when a good is in surplus (i.e., when the quantity supplied exceeds the quantity demanded)? How will demanders and suppliers respond to a surplus, and what will happen to the market price?
What will be an ideal response?
Why are transfer payments excluded from government expenditure in the national income accounts?
What will be an ideal response?
Which of the following is most likely to help the residents of a nation produce more goods and services and achieve higher income levels?
What will be an ideal response?
If the price of action figures was $12.00 each, his consumer surplus would be
Table-Demand and Utility Table for action figures
A. $2.
B. $4.
C. $12.
D. $14.