The short-run Phillips curve shows that as the unemployment rate goes down, _____

Refer to Table 1-1. What is Eva's marginal cost if she decides to stay open for two hours instead of one hour?

A) $12 B) $24 C) $36 D) $71

In the fooling model, real wages

A) are countercyclical. B) are procyclical. C) are constant. D) show no clear cyclical pattern.