If the Fed moves the economy upward along the short-run Phillips curve from an initial inflationary equilibrium, what is happening?
a. Unemployment is rising above the natural rate, output is decreasing, and inflation is decreasing.
b. Unemployment is falling below the natural rate, output is decreasing, and inflation is increasing.
c. Unemployment is rising above the natural rate, output is increasing, and inflation is decreasing.
d. Unemployment is falling below the natural rate, output is increasing, and inflation is increasing.
e. Unemployment is falling below the natural rate, output is increasing, and inflation is decreasing.
D
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Which of the following trade agreements, which took effect in 1994 and was implemented over a 15-year period, eliminates all tariffs and other trade barriers between its members?
A) North American Free Trade Agreement B) Asian Pacific Economic Cooperation C) General Agreement on Tariffs and Trade D) World Trade Organization
Which of the following topics is not a part of a typical scenario plan?
a. Expected changes in corporate governance practices. b. Expected changes in labor-management relations. c. Expected changes in government intervention and regulations. d. Expected changes in country infrastructure. e. Expected changes in budgets and capital budgeting projects.
Kara and Kyle are competing sockeye salmon fishers. Both have been allocated ITQs that limit their catch to 2,000 tons of sockeye salmon each. Kara's cost per ton is $8; Kyle's cost per ton is $12. Refer to the information given. If the market
price of sockeye salmon is $15 per ton, what is the minimum amount per ton that Kara would have to offer Kyle to convince him to sell Kara his ITQs? A. $3. B. $4. C. $5. D. $7.
Indifference curves
A) are vertical. B) are horizontal. C) slope upward. D) slope downward.