The long-run Phillips curve suggests that changing the rate of unemployment in the economy has no impact on the inflation rate
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
When a consumer is at his or her best affordable point, the budget line
A) is flatter than the highest attainable indifference curve. B) is tangent to the highest attainable indifference curve. C) is steeper than the highest attainable indifference curve. D) does not touch the highest attainable indifference curve.
Which of the following could cause economic growth?
a. Growth in productivity b. Growth in the employment-population ratio c. Growth in the average number of hours worked d. Growth in the population e. All of these
The supply of loanable funds comes from anyone who has saved money and wants to lend it out
a. True b. False Indicate whether the statement is true or false
Purchasing power parity is the theory that nominal exchange rates are determined:
A. by real exchange rates. B. as necessary for the law of one price to hold. C. by the forces of supply and demand. D. as necessary to achieve the fundamental value of the exchange rate.