The Phillips Curve will shift downward if
A. the overall employment rate remains unchanged.
B. the expected inflation rate falls.
C. the unexpected inflation rate rises.
D. the price level falls.
Answer: B
Economics
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The unemployment rate is
A) the percentage of the labor force that is unemployed. B) the percentage of the number employed that is unemployed. C) the percentage of the working-age population that is employed. D) the percentage of the working-age population that is unemployed. E) the percentage of the labor force that is employed.
Economics
We expect the price elasticity of supply to be
A) negative. B) positive. C) between -1 and +1. D) zero.
Economics