The aggregate demand curve shows the ________ relationship between the price level and ________
A) positive; the quantity of real GDP demanded
B) negative; aggregate labor demanded
C) positive; aggregate labor demand
D) negative; the quantity of real GDP demanded
D
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Which of the following statements is TRUE about the public debt and future generations?
A) Future generations will always be worse off because they will have to pay off the public debt. B) Increased consumption today will lead to increases in the capital stock in the future. C) Future generations may be better off if the rate of return on the borrowed funds is higher than the interest rate paid to foreign residents. D) The public debt cannot be held by foreign residents therefore we really owe the debt to ourselves.
In its original form, the Phillips curve depicted a situation in which an economy could reduce its unemployment rate by holding the inflation rate steady
a. True b. False Indicate whether the statement is true or false