Environmental pollution is accounted for in:

Use the above table. Assuming constant opportunity costs, the opportunity cost of producing a gallon of wine in Argentina is

A) 0.33 pound of beef. B) 0.5 pound of beef. C) 2 pounds of beef. D) 3 pounds of beef.

One implication of the Phillips curve analysis is that: a. unemployment rates below the natural rate are only possible in the long run

b. unemployment rates below the natural rate lead to falling rates of inflation in the long run. c. if inflationary expectations are accurate, the economy is on the short-run Phillips curve but not on the long-run Phillips curve. d. unemployment rates below the natural rate may be achieved only with rising inflation rates. e. the natural rate of unemployment is strictly a short-run phenomenon.