Monetary policy has ________ impact on the long-run Phillips curve

Because workers in the United States work fewer hours per week, on average, than they did over 100 years ago,

A) workers in the United States are worse off than they were over 100 years ago. B) GDP is lower than it would be if U.S. workers worked the same workweek they had 100 years ago. C) GDP is higher than it would be if U.S. workers worked the same workweek they had 100 years ago. D) workers in the United States earn less income than they did over 100 years ago.

One problem that might occur as a result of economic regulation is

A) the firm may be earning more than a normal rate of return on investment. B) the quality of service might be lowered. C) that social regulation may follow. D) the demand for the good may be greater than the supply.