The idea behind the Phillips curve is that ________
A) tight labor markets lead to inflationary pressures
B) when the unemployment rate is low, wages will increase
C) when firms raise wages to attract new workers, prices will also increase
D) all of the above
E) none of the above
D
Economics
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An example of the political business cycle in action came during the ________
A) Roosevelt administration of the 1920s B) Nixon administration of the 1970s C) Reagan administration of the 1980s D) Bush administration of the 2000s
Economics
Describe the argument that education generates a positive externality. Why might this externality not be relevant in terms of economic efficiency?
What will be an ideal response?
Economics