We would expect a decrease in taxes to cause a movement down along the short-run Phillips Curve.

Based on an analysis of macroeconomic outcomes under Republican and Democratic administrations, we would expect which of the following to occur?

A) Growth rates to be generally higher under Republican administrations. B) Macroeconomic policy to be relatively contractionary under Democratic administrations. C) Unemployment rates to be generally higher under Democratic administrations. D) Inflation rates to be generally lower under Democratic administrations. E) none of the above

If a city government enacts a maximum price on rent,

A) quantity supplied will decrease. B) quantity demanded will increase. C) allocational problems develop. D) All of the above.