An adverse supply shock shifts the short-run Phillips curve to the
a. right. This means the unemployment rate is higher at each inflation rate.
b. right. This means the unemployment rate is lower at each inflation rate.
c. left. This means the unemployment rate is higher at each inflation rate.
d. left. This means the unemployment rate is lower at each inflation rate.
a
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Buying a house during a recession may be a good idea if your job seems secure because the Federal Reserve often lowers interest rates during a recession
Indicate whether the statement is true or false
Mutual interdependence among firms is one of the key characteristics of an oligopoly market that distinguishes it from the other three major market structures
Indicate whether the statement is true or false
Without an acceptable domestic currency to serve as a medium of exchange, a nation might try to substitute a more stable currency from another nation.
Answer the following statement true (T) or false (F)
Those economists who justify high pay packages for CEOs say that they:
A. Are primarily an efficiency wage package for CEOs B. Reflect the compensating differences for CEOs C. Reflect the marginal revenue product of CEOs D. Are like buying a ticket to a lottery