If inflation expectations rise, the short-run Phillips curve shifts
a. right, so that at any inflation rate output is higher in the short run than before.
b. left, so that at any inflation rate output is higher in the short run than before.
c. right, so that at any inflation rate output is lower in the short run than before.
d. left, so that at any inflation rate output is lower in the short run than before.
c
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Assume there are two competing social network sites, Mugshot and Graybar, and each grow in value as more people use them
Mugshot has been around longer and has the most users, but people tend to agree that Graybar is a better site, so the equilibrium where everyone uses Graybar is preferred to the equilibrium where everyone uses Mugshot. This situation describes a multiplayer A) assurance game. B) prisoner's dilemma game. C) battle of the sexes game. D) pure coordination game.
An advance in technology shifts the production function upward and shifts the labor
A) demand curve leftward. B) supply curve leftward. C) demand curve rightward. D) supply curve rightward.