A decrease in expected inflation will
A) increase the natural rate of unemployment. B) shift the short-run Phillips curve to the left.
C) shift the long-run Phillips curve to the left. D) reduce real wages.
B
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A quota is a
A) quantitative restriction on an import imposed by the importing country. B) quantitative restriction on an import imposed by the exporting country. C) restriction on how much a customer can buy of a scarce good imposed by the seller. D) tax that is imposed on a good when it crosses an international boundary. E) trade barrier that does not harm domestic consumers of the good or service.
One possible solution to the problem of protecting a common resource is to convert that resource to a private good
a. True b. False Indicate whether the statement is true or false