The expectation of a lower inflation rate will cause:
a. the short-run Phillips curve to become vertical
b. the short-run Phillips curve to shift leftward.
c. a movement down along a short-run Phillips curve.
d. the short-run Phillips curve to shift rightward.
b
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In 2012, which of the following countries had the highest share of consumption spending in GDP?
A) the United States B) France C) Germany D) China
According to the monetarists, the velocity of money is
a. constant by definition. b. highly variable and unpredictable. c. constant as a matter of empirical proof. d. not constant but predictable.
Other things equal, a price discriminating monopolist will:
A. realize a smaller economic profit than a nondiscriminating monopolist.
B. produce a larger output than a nondiscriminating monopolist.
C. produce the same output as a nondiscriminating monopolist.
D. produce a smaller output than a nondiscriminating monopolist.
A key idea in the study of economics is that increasing ______ leads to economic growth.
a. regulation b. productivity c. population d. dedication