According to the Phillips curve diagram, if a central bank disinflates what ultimately happens to the unemployment rate?
It returns to its original level.
Economics
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A nation can produce two products: tanks and autos. The table below is the nation's production possibilities:
Given the production possibilities schedule above, a combination of 3 tanks and 350 autos:
A. Illustrates the tradeoff between tanks and autos
B. Is attainable but entails some unemployment or inefficient use of society's resources
C. Cannot be produced by society, given its current resources and production technology
D. Is not attainable because this combination is not listed in the schedule
Economics
At which of the following did the United States agree to implement policies to reduce U.S. inflation and reduce oil imports?
A. Bretton Woods B. Louvre Accord C. Bonn Summit D. Plaza Accords
Economics