The original (1958 ) Phillips curve stated that
A) unemployment and money wage rates move in the same direction.
B) unemployment and money wage rates move in opposite directions.
C) there is an inverse relationship between price inflation and unemployment
D) there is a direct relationship between price inflation and unemployment.
E) a and c
B
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An example of an in-kind transfer is
A) national defense. B) Social Security. C) low-cost public housing. D) unemployment benefits.
Dewey earned a salary of $75,000 in 2001 and $95,000 in 2006 . The consumer price index was 177 in 2001 and 266 in 2006 . Dewey's 2006 salary in 2001 dollars is
a. $47,768.36. b. $63,214.29. c. $84,550.00. d. $142,768.36.
If consumer purchases of a good are highly sensitive to the price of the good, this is illustrated by a
a. demand curve that is relatively flat (more horizontal). b. demand curve that is relatively steep (more vertical). c. supply curve that is relatively flat (more horizontal). d. supply curve that is relatively steep (more vertical).
In equilibrium, all traded goods sell at the same price internationally because of
a) government intervention B) arbitrage C) the fact that the underlying value is the same everywhere D) none of the above