The price elasticity of demand can range between
A) zero and one.
B) negative infinity and infinity.
C) zero and infinity.
D) negative one and one.
C
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Which of the following would most likely NOT be taught in a macroeconomics course?
A) changes in the health care industry B) factors leading to different economic growth rates among countries C) government actions in response to a slowdown in the economy D) the relationship between the inflation rate and the unemployment rate
If inflation expectations rise, the short-run Phillips curve shifts
a. right, so that at any unemployment rate inflation is higher in the short run than before. b. left, so that at any unemployment rate inflation is higher in the short run the before. c. right, so that at any unemployment rate inflation is lower in the short run than before. d. left, so that at any unemployment rate inflation is lower in the short run than before.