If workers and firms raise their inflation expectations,
A) unemployment will fall.
B) the short-run Phillips curve will be vertical.
C) the short-run Phillips curve will shift upward.
D) actual inflation will fall to match expected inflation.
C
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Based on U.S. data for 2011, the poverty rate is the highest for which group of people?
a. children b. married couples c. female-headed households, no spouse present d. the elderly
Elizabeth just received her Ph.D. in economics and has two competing job offers. The first is in Washington, D.C. and pays a salary of $200,000 . She has a similar job offer in Austin, TX that pays $90,000 . Which pair of CPIs would make the two salaries have the same purchasing power?
a. 70 in Washington, D.C. and 42 in Austin, TX b. 140 in Washington, D.C. and 70 in Austin, TX c. 160 in Washington, D.C. and 72 in Austin, TX d. 210 in Washington, D.C. and 150 in Austin, TX
Answer the following question on the basis of the data given for two regions, East and West, of a hypothetical world. The nations have the production possibilities for units of food and clothing given below.
Refer to the data above. In the East region, the relative cost of 1 unit of:
A. Food is 4 units of clothing
B. Food is .5 units of clothing
C. Clothing is 4 units of food
D. Clothing is .5 units of food
In what ways did the stock market crash of 1929 increase the severity of the downturn?
What will be an ideal response?