At the natural rate of unemployment, the long-run Phillips curve has a(n)
A. vertical slope.
B. horizontal slope.
C. upward slope.
D. downward slope.
Answer: A
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A rent ceiling set above the equilibrium rent has no effect
Indicate whether the statement is true or false
According to the Monetarists, the money supply is a major factor determining
A) aggregate supply. B) aggregate demand. C) velocity. D) real wages.
In economics, the term physical capital
A) refers to funds used by businesses to acquire goods and services. B) refers to all manufactured resources used for production. C) refers to the process of raising funds through the stock market. D) defines the stock of merchandise already produced.
The contributive standard (merit standard) for distributing income implies that
A) income should be distributed equally. B) income should be distributed according to need. C) income should be distributed according to the marginal productivity of workers. D) a transfer should be contributed to an individual above his or her contribution to net output.