The short-run tradeoff between the unemployment rate and the inflation rate shown by the Phillips curve is represented in the AS-AD model by
A) rightward shifts of the aggregate supply curve.
B) the downward-sloping aggregate demand curve.
C) the upward-sloping aggregate supply curve.
D) the vertical potential GDP line.
E) leftward shifts of the aggregate supply curve.
C
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Firm X owns both a grocery store and the parking lot outside the grocery store. In order to increase the traffic at the store the owners of the store should
a. Increase the prices on the goods sold in the store b. Increase the parking rates c. All of the above d. None of the above
Farmer Fred could grow wheat and barley. He could grow 75 bushels of wheat or 125 bushels of barley using the same resources on an acre of his land. The price of wheat is $2.00 per bushel and the price of barley $ 0.80 . Show the benefits to Fred from specialization. What should he specialize in?