In the short run, a decline in aggregate demand would be associated with:
a. an inward shift of the Phillips curve.
b. an outward shift of the Phillips curve.
c. an upward movement along the Phillips curve.
d. a downward movement along the Phillips curve.
e. no change along the Phillips curve.
d
Economics
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Which of the following is the largest component of federal spending today?
A) income security B) Social Security C) Medicare D) national defense
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The following is a total-product schedule for a resource. Assume that the quantities of other resources the firm employs remain constant.Units of ResourceTotal Product124242354464572If the product the firm produces sells for a constant $2 per unit, the marginal revenue product of the third unit of the resource is
A. $12. B. $18. C. $6. D. $24.
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