The long-run Phillips curve is downward-sloping
a. True
b. False
B
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Refer to the scenario above. If this game is repeated several times, the players will eventually reach an equilibrium where Beth will earn ________ and Charles will earn ________
A) $0; $10 B) $10; $10 C) $0; $50 D) $20; $20
Refer to Figure 5-7. Which of the following statements is true?
A) The optimal quantity of pollution reduction is QB. B) The optimal quantity of pollution reduction is QE. C) At QE the benefits of reducing pollution outweigh the cost of pollution reduction. D) At QB society is under allocating resources to pollution reduction.
For decades, the NCAA restricted the number of college football and basketball games that could be televised, and in 1982 the University of Georgia and the University of Oklahoma sued the NCAA under the federal antitrust laws
In 1984, the Supreme Court decided the case A) against the NCAA, citing anticompetitive practice. B) against the NCAA, citing that the NCAA did not control what television networks put on the air. C) for the NCAA, citing the fact that belonging to the NCAA was voluntary. D) against the NCAA, citing explicit collusion among the larger colleges.
The view that velocity is constant in the short run transforms the equation of exchange into the quantity theory of money. According to the quantity theory of money, when the money supply doubles
A) velocity falls by 50 percent. B) velocity doubles. C) nominal incomes falls by 50 percent. D) nominal income doubles.