Since the 1970s, the Phillips curve has:
a. remained stable.
b. moved in a clockwise direction.
c. been unstable.
d. been used as a reliable model to guide public policy.
c
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The purchase of foreign stocks and bonds by a U.S. brokerage firm is an example of capital inflows to the United States
Indicate whether the statement is true or false
Money is defined by economists as
A) the market value of an asset. B) the funds one receives during a specified period of time. C) any good that is widely accepted in exchange and for the repayment of debts. D) both b and c E) all of the above
Let us suppose that consumer expectations are optimistic and therefore consumer spending rises. Which of the following effects would likely take place?
An increase in aggregate demand A decrease in aggregate demand A decrease in aggregate supply An increase in aggregate supply
If the price elasticity of supply of smartphones is constant and equal to 3, a 10 percent increase in price will result in a change in quantity supplied equal to
A. -30 percent. B. 3 percent. C. 30 percent. D. 33 percent.