The expectation of a higher inflation rate will cause:
a. the short-run Phillips curve to become vertical.
b. the short-run Phillips curve to shift leftward
c. a movement up along a short-run Phillips curve.
d. the short-run Phillips curve to shift rightward.
d
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Which of the following activities increases the demand for union labor?
A) a decrease in the minimum wage B) a decrease in immigration C) an increase in the union wage D) an increased desire by consumers to buy imports
The growing importance of international markets and the globalization of economic activity have reduced the importance of antitrust enforcement that focuses primarily on domestic producers
Indicate whether the statement is true or false
A hospital receives a large donation and wants to use the funds to buy a new CT scanner. What is included in the opportunity cost of the new CT scanner?
a. There is no opportunity cost because the money was a gift. b. The foregone benefits of a new CT scanner if the funds are diverted to its purchase. c. The cost of the same CT scanner last year. d. The remaining depreciation expense on the CT scanner the hospital is replacing
In the above figure, a decrease in the real interest rate will result in a movement from point E to
A) point F. B) point G. C) point H. D) point I.