The relative price of a good is greater than the money price of a good
Indicate whether the statement is true or false
FALSE
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Along the short-run Phillips curve SRPC0 the natural unemployment rate is
A) 7 percent. B) 3 percent. C) 6 percent. D) an amount that can be determined from the figure, but none of the above answers is correct. E) an amount that cannot be determined from the figure. The figure above shows some Phillips curves for an economy.
Back to the text: Amar is a safekeeper of people's gold (their money). He is a smart businessman who does not gamble and keeps 20 percent of the deposited gold on reserve to handle the transactions demands of depositors. Amar holds to a sound
a. excess reserve depletion rate b. liquidity of money c. volatility of money d. fractional reserve rule e. quantity theory of money
A supply schedule shows the specific quantities of a good that suppliers are willing and able to
a. supply as long as there is a complementary demand b. produce at different costs c. supply at different quantities d. supply at different prices e. supply
The rocketing prices of imported oil in 1973-1974 and again in 1979-1990 are good exampled of what type of inflation?
What will be an ideal response?