Which of the following statements is true?
A. The short-run aggregate supply curve is downsloping.
B. The short-run aggregate supply curve is vertical.
C. The long-run aggregate supply curve is vertical.
D. The long-run aggregate supply curve is upsloping.
C. The long-run aggregate supply curve is vertical.
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How can government best promote domestic industry?
What will be an ideal response?
Explain the trade-off between equity and economic efficiency inherent in the welfare system.
What will be an ideal response?
A.W. Phillips collected data on the rate of change in money wages and plotted it against unemployment rates in the United Kingdom. The curve he fit to the data showed that
A) the rate of change of money wage rates and unemployment rates were inversely related. B) the rate of change of money wage rates and unemployment rates were directly related. C) the rate of change of money wage rates and unemployment rates were independent. D) as money wage rates increased, the unemployment rate was cut in more than half.
"Black men have become less useful in the emerging economic order; they are socially unwanted, superfluous, and marginal." This view was expressed by
A. Kathryn Edin and Laura Lein. B. Charles Murray and Mickey Kaus. C. William Darity and Samuel Myers. D. Barbara Ehrenreich and Frances Fox Piven.