In 2009, the U.S. government's budget deficit increased substantially. Other things the same, this means the
a. supply of loanable funds shifted to the right.
b. supply of loanable funds shifted to the left.
c. demand for loanable funds shifted to the right.
d. demand for loanable funds shifted to the left.
b
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Since approximately 1970, the most stable Phillips-type relationship for the United States has been between which of the following?
A) the rate of inflation and the change in the unemployment rate B) the unemployment rate and the change in the rate of inflation C) the change in the unemployment rate and the change in the rate of inflation D) the inverse of the unemployment rate and the rate of inflation E) the unemployment rate and the rate of inflation
A purely competitive seller should produce (rather than shut down) in the short run:
A. only if total revenue exceeds total cost. B. only if total cost exceeds total revenue. C. if total revenue exceeds total cost or if total cost exceeds total revenue by some amount less than total fixed cost. D. if total cost exceeds total revenue by some amount greater than total fixed cost.