Moving along the short-run Phillips curve, a ________ unemployment rate can only be achieved by paying the cost of ________
A) lower; a lower inflation rate
B) lower; a lower price level
C) lower; a higher expected inflation rate
D) lower; a higher inflation rate
E) higher; a higher inflation rate
D
You might also like to view...
Which of the following happens when new firms enter a monopolistically competitive market structure?
A) The existing firms face higher demand. B) The existing firms face relatively inelastic demand curves. C) The existing firms earn higher profits. D) The existing firms earn lower profits.
The system of land tenure in which tenant farmers pay a fixed share of their crop to landowners is called
(a) communal farming. (b) collective farming. (c) latifundio-minifundio system. (d) sharecropping.
A person who has taken medical leave is
A) in the labor force. B) not in the labor force. C) unemployed. D) a job leaver.
In the market for labor, the demand function describes
A. the output of workers who are paid a given wage. B. the demand for the firm's output. C. the number of workers who are willing to work at each wage. D. the number of workers a firm is willing to hire at each wage.