In the Phillips curve equation, which of the following will cause an increase in the current inflation rate?
A) an increase in the expected inflation rate
B) a reduction in the unemployment rate
C) an increase in the markup, m
D) all of the above
E) none of the above
D
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The unemployment rate in the U.S. is equal to ________
A) the number of individuals unemployed in the U.S. divided by the U.S. population B) the number of individuals unemployed divided by the U.S. labor force C) the size of the U.S. population divided by the number of individuals unemployed D) the size of the U.S. labor force divided by the number of individuals unemployed
The increase in the proportion of tertiary employment over time at the expense of both primary and secondary employment
(a) is peculiar to the western industrial countries. (b) is strictly an American phenomenon. (c) is present generally in all industrial countries. (d) is restricted to countries with relatively small government sectors.