The negative relationship between unemployment and inflation is known as the
A. aggregate demand curve.
B. efficiency wage line.
C. Phillips curve.
D. aggregate supply curve.
Answer: C
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You're traveling in Japan and are thinking about buying a new kimono. You've decided you'd be willing to pay $175 for a new kimono, but kimonos in Japan are all priced in yen
If the kimono you're looking at costs 14,000 yen, under which of the following exchange rates would you be willing to purchase the kimono? (Assume no taxes or duties are associated with the purchase.) A) 24.5 yen per dollar B) 65 yen per dollar C) 80 yen per dollar D) You would purchase the new kimono at any of the above exchange rates.
Refer to Figure 2-7. Assume that in 2022, Apple temporarily shuts down one of its factories for an extensive renovation, and this reduces the amount of production capacity available for both types of vehicles. This is best represented by the
A) movement from H to J in Graph B. B) movement from K to L in Graph C. C) movement from J to G in Graph B. D) movement from E to F in Graph A.
Which of the following is a reason that banks are so heavily regulated?
A. Governments are concerned about the safety of deposits. B. The industry is a principal determinant of aggregate demand. C. Bank failures are contagious. D. All of these responses are correct.
Why are payroll taxes regressive?
What will be an ideal response?