Until the 1980s, most of the national debt was
a. owned by foreigners.
b. acquired either during wars, especially World War II, or during recessions.
c. owned by banks.
d. financed by printing money.
b
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If the unemployment rate in the economy is steady at 4 percent per year, how does the short-run Phillips curve predict that the inflation rate will be changing, if at all? What will happen if the unemployment rate now rises to 7 percent per year?
Assume there are no changes to inflation expectations. Provide an appropriate graph to support your discussion.
Which of the following is most likely to lead to an increase in the value of the dollar?
A) decline in U.S. interest rates B) increase in imports to the United States C) decrease in exports from the United States D) increase in U.S. interest rates compared to foreign interest rates
Globalization in the past decade has led to a(n):
A. vertical short-run Phillips curve. B. backward short-run Phillips curve. C. upward-sloping short-run Phillips curve. D. flat short-run Phillips curve.
The perfect competitor can make a profit
A. only in the long run. B. only in the short run. C. in both the long run and the short run. D. in neither the long run nor the short run.