As people come to expect higher inflation, the long-run Phillips curve shifts leftward

The consumer price index (CPI), the personal consumption expenditures price index (PCE), and the core PCE have over the last 15 years

A) moved roughly together with the CPI being the most stable. B) moved roughly together with the PCE being the most stable. C) not moved together, with the CPI being the most stable. D) moved roughly together with the core PCE being the most stable.

Suppose residents of Toadhop live on the Quabache River, a river prone to flooding. Suppose there are 1000 (type A) people who value flood control more than the 1000 (type B) people. Type A Demand QD = 100 ? P Type B Demand QD = 50 ? P Where Q measures the quality of flood control. If the price of a unit of flood control is $100,000 and the citizens of Toadhop gather for a townhall meeting to

find the socially optimal level of flood control, and they are successful, they will pick Q equal to a. 0 b. 10 c. 25 d. 70