The aggregate supply curve slopes upward when the real wage falls initially as the price level rises
a. True
b. False
Indicate whether the statement is true or false
True
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Rent controls and controls on other prices often aggravate the very problem they are intended to solve.
Answer the following statement true (T) or false (F)
Moving along the short-run Phillips curve, as the unemployment rate increases, the inflation rate
A) initially increases and then decreases. B) remains unchanged. C) increases. D) decreases. E) initially decreases and then increases.
The returns that skilled engineering professionals earn consist of both transfer earnings and economic rent. This implies that:
a. demand for these professionals is highly elastic. b. the supply curve of skilled engineering professionals is upward-sloping. c. the supply curve of skilled engineering professionals is backward bending. d. demand for these professionals is perfectly inelastic. e. the supply curve of skilled engineering professionals is vertical.
The typical tax-haven subsidiary owns the common stock of its related operating foreign subsidiaries.
a. true b. false