One factor that explains the short-run trade-off between inflation and unemployment is labor contracts that fix wages for an extended period of time

When the official price for goods and services is below the equilibrium price in a market, prices no longer perform their rationing function efficiently

a. True b. False Indicate whether the statement is true or false

Scatter diagrams are a useful way to depict the relationship between two variables

a. True b. False Indicate whether the statement is true or false