When the expected inflation rate ________, the short-run Phillips curve ________
A) rises; shifts downward
B) falls; shifts upward
C) rises; shifts upward
D) falls; does not shift
E) rises; might shift upward or downward depending on how the long-run Phillips curve shifts
C
Economics
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The economic optimum production level for a common property resource occurs where
a. Total revenue equals total costs b. Average revenue equals marginal cost c. Average revenue equals average cost d. Marginal revenue equals total costs e. Marginal revenue equals marginal cost
Economics
An increase in ________ tends to increase ________ and therefore increase ________
A) cost; price; supply B) cost; demand; price C) demand; price; cost D) supply; cost; price
Economics