An automobile manufacturer voluntarily recalls certain models to fix a defective part at no cost to the owners. This action has the effect of

The economic way of thinking includes:

A) more attention paid to benefits rather than the costs involved in any choice. B) the assumption that individuals choose to average out some objective. C) emphasis on how choices are made at the margin. D) the notion that the industrialized nations have solved the problem of scarcity.

Movements up along a particular short run Phillips curve are not consistent with: a. Increases in aggregate demand

b. Movements up along the short run aggregate supply curve. c. Movements up along the long run aggregate supply curve. d. Movements up along a particular short run Phillips curve are consistent with all of the above.