For a given short-run Phillips curve, if expected inflation is 8% but actual inflation is 10%, is the unemployment rate above or below its natural rate?

A curve/line that shows combinations of goods among which a consumer would not desire one combination of goods to another combination of goods on that curve/line is called

A) a budget line. B) an indifference curve. C) a utility possibilities curve. D) a demand curve.

Suppose the marginal utility of a dollar for Carl is 7 utils and for Judy, 12 utils. According to Lerner, society will maximize its total utility if

a. we transfer money from Carl and give it to Judy as long as the marginal utility of money for Carl is lower than that of Judy's b. we transfer money from Carl and give it to Judy as long as the marginal utility of money for Carl is higher than Judy's c. we transfer money from Judy and give it to Carl as long as the marginal utility of money for Judy is lower than Judy's d. we allow the market to determine the marginal utilities of Carl and Judy regardless of whose is higher e. Carl and Judy have the same utility functions