The long-run response to an increase in the growth rate of the money supply is shown by shifting
a. the short-run and long-run Phillips curves left.
b. the short-run and long-run Phillips curves right.
c. only the short-run Phillips curve left.
d. only the short-run Phillips curve right.
d
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When the cost of borrowing funds which is stated on a loan is adjusted for the effects of inflation, the resulting interest rate is called the
A) prime interest rate. B) nominal interest rate. C) real interest rate. D) core PCE interest rate.
What is the difference between the utility function of a risk averse person and a risk neutral person
Which of the following is a critical key to reducing poverty in the poorest nations?
A. The relationship between output growth and population growth. B. Redistribution of existing income within the nation. C. Government ownership of resources. D. Reduced human capital.
A profit-maximizing firm hires labor per week up to the point at which
A. the marginal revenue product of labor equals the wage. B. the marginal revenue product of labor is equal to zero. C. the marginal revenue product of labor is maximized. D. the difference between the marginal revenue product and the wage is maximized.