Each point on the Phillips curve represents a combination of the:
a. consumption rate and the unemployment rate.
b. savings rate and the inflation rate.
c. interest rate and the savings rate.
d. inflation rate and the unemployment rate.
d
Economics
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Suppose there are only two people in the world. Each person's production possibilities frontier also represents his or her consumption possibilities when
a. neither person faces trade-offs. b. the frontiers are straight lines. c. the frontiers are bowed out. d. they choose not to trade with one another.
Economics
The field of economics that analyzes government decision making, politics, and elections is called:
A. public finance. B. public choice theory. C. collective economics. D. political economy.
Economics