If the minimum wage law is repealed and employers begin using efficiency wages far less frequently, it would ___ unemployment and ____ the natural rate of unemployment:
a. Increase; increase

Which is a question of interest in this book?

A) Where is the stock market heading? B) What is the optimal inflation rate? C) How are stock options priced? D) What are commodity futures?

The long-run Phillips curve:

a. is horizontal. b. is the same as the short-run Phillips curve. c. displays a positive relationship rather than an inverse relationship. d. is exponential. e. is vertical.