The short-run Phillips curve shows a relationship between the
A) unemployment rate and the interest rate.
B) inflation rate and the interest rate.
C) price level and real GDP.
D) inflation rate and real GDP.
E) inflation rate and the unemployment rate.
E
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From 1977-2011, the average duration of unemployment has been highest in which of the following places?
A) Canada B) Europe C) Mexico D) the United States
The net worth of a bank is defined as the difference between
a. income and expenses. b. assets and liabilities. c. loans and deposits. d. loans and reserves.
In the long run, a decrease in aggregate demand, all other things unchanged, will cause the price level to _______ and potential output to _______ .
A. decrease; decrease B. increase; remain stable C. decrease; remain stable D. increase; increase
Public goods are those for which there:
A. is no free-rider problem. B. are no externalities. C. are nonrivalry and nonexcludability. D. are rivalry and excludability.