The rate of adjustment between the long run and short run Phillips curve will be determined by
a. the rate of adjustment of price expectations.
b. the rate of money growth.
c. the level of wage flexibility in labor markets.
d. both a and c.
e. all of the above.
D
Economics
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Gross revenue minus explicit costs equals
A) accounting profit. B) implicit cost. C) opportunity cost. D) economic profit.
Economics
If extraction technology continues to improve over time,
A) the price of crude oil can continue to fall or stay steady. B) the price of crude oil will increase despite any attempts to stem demand. C) the price of crude oil will only fall if sufficient government taxation is implemented. D) the price of crude oil will only fall if sufficient demand declines are arranged.
Economics