The key to understanding the short-run trade-off behind the Phillips curve is that an increase in inflation will decrease unemployment if the inflation is ________ by both workers and firms

The global economy enters a recession, thereby decreasing the level of U.S. exports. If the aggregate supply curve does not shift, then aggregate demand will ________, real GDP will ________, and the price level will ________

A) increase; increase; remain the same B) increase; remain the same; increase C) decrease; increase; increase D) decrease; decrease; decrease E) remain the same; increase; increase

The free-rider problem plagues public goods because

A) public goods are not produced by profit-maximizing firms and hence can be produced only at a loss to society. B) once public goods are produced it is not possible to exclude anyone from consuming these goods. C) the government can refuse to serve a citizen. D) the public doesn't care about public goods.