Changes in which of the following shift the short-run Phillips curve?
i. changes in the natural unemployment rate
ii. changes in the expected inflation rate
iii. changes in the inflation rate
A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
D
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Universities are able to act as monopsonists in the market for professors because
A) a university usually does not consider hiring faculty members from another institution. B) faculty members usually have to move to a different city when changing universities. C) students like all of their professors. D) senior faculty members are willing to move to a new university at any cost.
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A