The short-run Phillips curve shifted during the 1970s primarily because of
A. easy fiscal policy.
B. the two large oil price shocks.
C. the changing demographics of the population.
D. tight monetary policy.
Answer: B
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Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448The price elasticity of demand (based on the midpoint formula) when price increases from $10 to $12 is
A. -1.37. B. -0.33. C. -1. D. -3.29.
The return that a domestic investor receives on a foreign investment is equal to
A) the interest rate on the foreign investment minus the interest rate on a comparable domestic investment. B) the appreciation rate of the foreign currency minus the appreciation rate of the domestic currency. C) the interest rate on the foreign investment times the appreciation rate of the foreign currency. D) the interest rate on the foreign investment minus the rate of appreciation of the domestic currency.
The perfectly competitive seller's short-run supply curve is
A) its entire marginal cost curve. B) its marginal revenue curve. C) the part of its marginal cost curve above the average variable cost curve. D) the part of its marginal cost curve above the average total cost curve.
The owner of an Oakley store has a more__________ demand curve and the owner of a chicken farm has a more__________ demand curve
a. inelastic; inelastic b. elastic; inelastic c. inelastic; elastic d. elastic; elastic