The modern view of the Phillips curve suggests that:
a. when inflation is reduced, unemployment will fall below the natural rate.
b. the Phillips curve is an unstable relationship.
c. systematic demand stimulus policies will be unable to affect prices in the long run.
d. there will be a trade-off between inflation and unemployment in the long run.
b
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How does a firm in monopolistic competition determine its price and quantity? What type of profit can it earn in the short run and the long run?
What will be an ideal response?
The Taft-Hartley Act of 1947 outlawed
A) strikes. B) make-work rules and forcing unwilling workers to join a union. C) right-to-work states. D) none of the above.
An expansionary monetary policy tends to ________ our net exports.
Fill in the blank(s) with the appropriate word(s).
During 2015-2017 China was the largest recipient of direct investment flows in the world.
Answer the following statement true (T) or false (F)