If the AS curve shifts from year to year, but the AD curve does not, then the Phillips curve would show
A. a constant trade-off between the inflation and unemployment rates.
B. a negative relationship between the inflation and unemployment rates.
C. no particular relationship between the inflation and unemployment rates.
D. a positive relationship between the inflation and unemployment rates.
Answer: D
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The Herfindahl-Hirschman Index is used to ________
A) measure the price elasticity of demand faced by a firm B) estimate the degree of competition in an industry C) measure the price elasticity of market supply in an industry D) estimate the profit earned by firms in an industry
The value of the four-firm concentration ratio that many economists consider indicative of the existence of an oligopoly in a particular industry is
A) anything greater than 10 percent. B) anything greater than 40 percent. C) anything greater than 30 percent. D) anything greater than 20 percent.
In the United States in the 1920s, there were many bank failures in ___ areas, as the result of ___
a. rural, high levels of indebtedness taken on in WWI b. rural, pro-urban Federal spending policies c. urban, lack of demand from the lower middle class for industrial products d. urban, pro-rural Federal spending policies
From a union's perspective, the optimal level of employment is determined by the intersection of the
A. Labor demand curve and the marginal wage curve. B. Labor demand curve and the marginal factor cost curve. C. Labor demand curve and the labor supply curve. D. Marginal wage curve and the labor supply curve.