Since approximately 1970, the most stable Phillips-type relationship for the United States has been between which of the following?
A) the rate of inflation and the change in the unemployment rate
B) the unemployment rate and the change in the rate of inflation
C) the change in the unemployment rate and the change in the rate of inflation
D) the inverse of the unemployment rate and the rate of inflation
E) the unemployment rate and the rate of inflation
B
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When the Fed wants to decrease US interest rates it will buy US treasury bonds
a. true b. false
Agriculture, clothing, and textiles are singled out for treatment in the chapter because
A) they tend to be the most highly protected sectors of industrial economies. B) they tend to be the most-protected sectors internationally. C) the policies of high-income nations in these sectors may have beneficial effects in low-income countries. D) they are more important to job creation than other sectors.