If the public expects the incumbent administration to stimulate the economy shortly before an election:
a. the unemployment rate will fall at the cost of higher inflation.
b. the economy will move up the short-run Phillips curve.
c. lower inflation will prevail, and the rate of unemployment will remain unchanged.
d. the economy will immediately move up the long-run Phillips curve.
e. neither inflation nor the unemployment rate will change.
d
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People base their labor supply on the ________ because they care about ________
A) real wage; what their earnings will buy B) real wage; the equality of money wages and the price level C) money wage; a surplus of labor D) money wage; the amount of labor firms demand
A person whose skills do not match available job openings is considered frictionally unemployed
a. True b. False Indicate whether the statement is true or false