A tradeoff between inflation and unemployment is shown directly by the __________ curve
A) Fisher
B) Phillips
C) Friedman
D) aggregate demand
B
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
Why do landlords tend to discriminate against a person's race, religion, or age more when rent controls are imposed?
A) Landlords are naturally racist and bigoted. B) Only minority groups will take an interest in apartments with controlled rents. C) Economists will encourage landlords to discriminate. D) Rent controls lower the personal costs of discriminatory behavior among landlords. E) For all of the above reasons.
Which of the following is NOT a dimension of delivery that customers care about?
a. Speed b. Cost c. Consistency d. Agility
If the marginal propensity to consume (MPC) is 0.75 and government purchases increase by $200 billion, then
A. equilibrium real Gross Domestic Product (GDP) will increase by $200 billion. B. equilibrium real Gross Domestic Product (GDP) will increase by $1600 billion. C. equilibrium real Gross Domestic Product (GDP) will increase by $800 billion. D. the effect on equilibrium real Gross Domestic Product (GDP) cannot be determined from the given information.