If inflation rises or falls faster than people forecast in the short run but not in the long run, what are the shapes of the Phillips curves?
a. The Phillips curve is vertical in the short run, and upward sloping in the long run.
b. The Phillips curve is downward sloping in the short run, and vertical in the long run.
c. The Phillips curve is upward sloping in the short run, and horizontal in the long run.
d. The Phillips curve is vertical in the short run and long run.
b
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The concept quality-adjusted life year (QALY)
a. is a multidisciplinary approach to measuring health status. b. has little application to medical decision making. c. is used extensively in the U.S. to evaluate health care programs. d. is used extensively to evaluate medical care resource allocation within government-run programs on fixed budgets, especially in Europe. e. none of the above.
In 2009, we ran a ________ on our current account and a _______ on our capital account.
A. deficit; deficit B. surplus; surplus C. deficit; surplus D. surplus; deficit