When the natural unemployment rate increases,
A) both the long-run Phillips curve and the short-run Phillips curve shift leftward.
B) there are no shifts of either the long-run Phillips curve or the short-run Phillips curve.
C) both the long-run Phillips curve and the short-run Phillips curve shift rightward.
D) the long-run Phillips curve shifts leftward, and the short-run Phillips curve shifts rightward.
E) the long-run Phillips curve shifts rightward, and the short-run Phillips curve shifts leftward.
C
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For a restaurant, all the following are examples of variable costs, except
a. Labor costs b. Cost of raw materials c. Rents on dining space d. None- all of them are variable costs
Any increase in efficiency increases only profits of producers, with no increase in output
a. True b. False Indicate whether the statement is true or false
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and reserve-related (central bank) transactions in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and reserve-related (central bank) transactions become more negative (or less positive). b. The GDP Price Index falls, and reserve-related (central bank) transactions remain the same. c. The GDP Price Index and reserve-related (central bank) transactions remain the same. d. The GDP Price Index rises, and reserve-related (central bank) transactions remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
A traffic light at an intersection is
a. rival and excludable in consumption. b. not rival but excludable in consumption. c. rival but not excludable in consumption. d. not rival and not excludable in consumption.