If the government places a new tax on the firing of workers, then we would expect
a. both the short run and long run Phillips curve to shift to the right.
b. both the short run and long run Phillips curve to shift to the left.
c. the long run Phillips curve remains unchanged while the short run Phillips curve shifts to the right.
d. the short run Phillips curve remains unchanged while the long run Phillips curve shifts to the right.
e. none of the above.
B
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According to the Rybczynski theorem, at constant world prices, if a country experiences a gain in its capital stock it will produce
A) more of the capital intensive good and less of the labor intensive good. B) more of both goods. C) less of the capital intensive good and more of the labor intensive good. D) less of both goods.
The public sector of the U.S. economy includes:
a. the federal, state, and local government. b. multinational corporations and the federal government. c. the Federal Reserve bank of the U.S. d. the judiciary and the federal government. e. households.