In the expectations-augmented Phillips curve, ? = ?e - 3(u - 0.06). When ? = 0.06 and ?e = 0.03, the unemployment rate is

In the figure above, which movement could be the result of the development of a new, more efficient refining technology?

A) point a to point e B) point a to point b C) point a to point c D) point a to point d

In the context of growth, the goal of stabilization policy once per capita output is equal to potential per capita output is to

A) insure that the percentage change in per capita output and potential per capita output over time are equal. B) raise the growth rate of potential per capita output above that of per capita output. C) raise the growth rate of per capita output above that of potential per capita output. D) None of the above is correct.