Examination of data since 1953 indicates that during this period stretching more than half a century, the Phillips curve
A) fails to exist.
B) is smoothly upward sloping.
C) is smoothly downward sloping.
D) slopes smoothly upward at first but then slopes smoothly downward.
Answer is B) is smoothly upward sloping. (Phillips curve is the negative relation/a simple trade-off between unemployment and inflation that was first observed in the United Kingdom. The curve shifts with inflationary expectations over time.) Example:
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Price ceilings lead to market surpluses
a. True b. False Indicate whether the statement is true or false
Anita is the retired president of Claddagh College and currently serves on the board of directors of the Patrician Pharmaceutical Company. Anita is considered ________ of the company
A) a managing director B) an inside director C) a silent partner D) an outside director
Using the CPI, the rate of inflation can be calculated by
A). 100 x [CPI(current year) - CPI(prior year)] B) [CPI(current year) - CPI(prior year)] x CPI(prior year) C) 100 x [CPI(current year) - CPI(prior year] / CPI(prior year) D) CPI (current year) / CPI (prior year)
At the federal funds market equilibrium,
A) both the federal funds rate and the total quantity of reserves tend to rise automatically. B) both the federal funds rate and the total quantity of reserves tend to fall automatically. C) the equilibrium quantity of reserves demanded is equal to the equilibrium quantity of reserves supplied by the Fed. D) the equilibrium quantity of reserves demanded exceeds the equilibrium quantity of reserves supplied by the Fed.