The law of increasing opportunity costs implies that a society's production possibilities curve will be a straight line

The short-run Phillips curve is a curve that shows the relationship, other things being constant, between ________ and ________

A) the inflation rate; the nominal interest rate B) the inflation rate; the expected inflation rate C) the unemployment rate; real GDP D) potential GDP; the natural unemployment rate E) the inflation rate; the unemployment rate

The national debt

a. can be paid off without major economic effects b. need never be paid off c. is no more serious a problem than is a corporation's debt d. should not exist during a period of economic prosperity e. is the simple sum of post budget deficits