Figure 33-6
?
The long-run Phillips curve in Figure 33-6 (b) would include which of the following points?
A. g, e, m
B. g, e, r
C. j, e, r
D. j, e, m
Answer: D
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Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for tuna. Which panel best describes what happens in this market when there is a decrease in the productivity of commercial fishermen?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
Ceteris paribus, the fear among travelers created by the 9-11 attacks would have what impact on the market for air travel?
a. an increase in equilibrium price and an increase in equilibrium quantity. b. an increase in equilibrium price and a decrease in equilibrium quantity. c. a decrease in equilibrium price and an increase in equilibrium quantity. d. a decrease in equilibrium price and a decrease in equilibrium quantity.