Based on the graph showing the Phillips curve, you would expect to see ______ at point A than at point B.
a. higher real wages
b. lower real wages
c. prices increasing faster
d. companies seeking more workers
a. higher real wages
Economics
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If firms and households form their expectations about inflation by looking at past inflation, this form of expectations formation is known as ________ expectations
A) adaptive B) forward-looking C) rational D) perfect
Economics
XYZ Co operates in a competitive market. Its production function is q = L?K?. The exponents, ? and ?, are both less than one. The firm's capital is fixed, and it takes the wage and price as given
Derive the firm's short-run demand for labor as a function of K, w, and p. How does the firm react to an increase in the wage rate?
Economics