Which of the following would shift the short-run Phillips curve to the left?
a. a positive supply shock
b. an increase in inflationary expectations
c. an negative supply shock
d. either (a) or (c)
a
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It is difficult in a natural monopoly market for the firm to achieve both efficiency and zero economic profit simultaneously, even with regulation
a. True b. False Indicate whether the statement is true or false
Suppose an economy produces only burgers and bags of fries. In 2010, 4000 burgers are sold at $3 each and 6000 bags of fries are sold at $1.50 each. In 2008, the base year, burgers sold for $2.50 each and bags of fries sold for $2 each
a. nominal GDP is $22,000, real GDP is $21,000, and the GDP deflator is 95.45. b. nominal GDP is $22,000, real GDP is $21,000, and the GDP deflator is 104.77. c. nominal GDP is $21,000, real GDP is $22,000, and the GDP deflator is 95.45. d. nominal GDP is $21,000, real GDP is $22,000, and the GDP deflator is 104.77.