Current thinking on the Phillips curve suggests that it would be best for policy makers to:
a. focus on controlling unemployment.
b. stimulate permanent shifts in aggregate supply
c. focus on controlling inflation.
d. stimulate permanent shifts in aggregate demand.
e. develop a two-pronged policy to control both unemployment and inflation.
c
Economics
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Suppose the current market wage rate (w) is $4. In the short run, a firm's marginal cost at the current output level is $2. What is this firm's marginal product of labor?
A) MPL = 0.5 B) MPL = 1 C) MPL = 2 D) MPL = 8
Economics
To an economist, rational self-interest means that individuals try to weigh the expected marginal (additional) benefits and marginal (additional) costs of their decisions
a. True b. False Indicate whether the statement is true or false
Economics