Any increase in autonomous spending will
A) shift the IS curve to the left.
B) shift the IS curve to the right.
C) cause a movement down along an IS curve.
D) cause a movement up along an IS curve.
B
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Milton Friedman and Edmund Phelps contributed which insight(s) to Phillips curve analysis?
A) that inflation is directly related to expectations of future inflation B) that inflation is negatively related to the unemployment gap C) that in the long run unemployment will be at the natural rate D) all of the above E) none of the above
The per-worker production function is ________
A) upward-sloping B) downward-sloping C) vertical D) horizontal
When U.S. farmers in the Southwest irrigate their land, salt in the ground soil leaks into the Colorado River. The Colorado River has become so salty that Mexican farmers further down the river cannot irrigate their own land and Mexican crops have been devastated. This situation constitutes a negative externality because:
The development of MP3 players and online streaming, which significantly reduced the market for CDs, is an example of:
A. roundabout production. B. creative destruction. C. derived demand. D. specialization.