In their 1960 article, Paul Samuelson and Robert Solow found
A) a direct relationship between inflation and investment expenditures.
B) an inverse relationship between inflation and investment expenditures.
C) a direct relationship between inflation and unemployment.
D) an inverse relationship between inflation and unemployment.
D
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A change in the money wage rate shifts
A) both the SAS and LAS curves. B) the LAS curve but not the SAS curve. C) the SAS curve but not the LAS curve. D) neither the SAS nor the LAS curve.
The supply curve for umbrellas
A) shows the supply of umbrellas consumers are willing and able to buy at any given price. B) is downward sloping. C) shows the relationship between the price of umbrellas and the quantity of umbrellas supplied. D) shows the relationship between the quantity of umbrellas firms are willing and able to supply and the quantity of umbrellas consumers are willing and able to purchase.