At the point where actual inflation is equal to expected inflation
A) the unemployment rate is zero.
B) there is no short-run Phillips curve, as this situation only occurs in the long run.
C) the short-run Phillips curve intersects the long-run Phillips curve.
D) the short-run Phillips curve is the same as the long-run Phillips curve.
C
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The assumption that a perfectly competitive industry has many sellers, each selling an identical product, leads to the conclusion that
A) consumers get to see a variety of outputs. B) there are many buyers. C) the economic profit will be positive in the long run. D) firms are price takers.
How has the financing of elementary and secondary education changed in the United States since 1940? What is the primary reason for this trend?
What will be an ideal response?
For years, your parents claimed they had no desire to join a social web site. Recently, however, they joined one and said they did so because all their relatives have joined the same site with them. Your parents' behavior is an example of
A) a switching cost. B) a network effect. C) the impact of positive market feedback. D) the impact of negative market feedback.
Teenage employment in the United States has risen in the last two decades
a. True b. False Indicate whether the statement is true or false