The Long-Run Phillips Curve is vertical, suggesting that ________
A) allowing inflation to rise will not succeed in keeping unemployment low
B) changes in unemployment have no lasting impact on inflation
C) shifts of the short-run Phillips curve impact inflation, but have no effect on unemployment
D) all of the above
E) none of the above
A
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The commerce clause strengthened the federal government's interventionist power in industries operating on a national scale
Indicate whether the statement is true or false
Suppose that productivity-enhancing technological progress affected more the production of chairs than the production of tables. This can be depicted using a production possibilities frontier in which
A) only the chair axis intercept increases. B) only the table axis intercept decreases. C) both intercepts increase; however, the chair intercept increases by more. D) both intercepts increase; however, the chair intercept increases by less.