The short-run Phillips curve will not shift unless there is
A) an increase in inflation that is unanticipated. B) a decrease in inflation that is unanticipated.
C) a change in inflation expectations. D) an increase in the unemployment rate.
C
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The concept of market structure refers to three main characteristics of buyers and sellers in a particular market. These include ____
a. the degree of seller and buyer concentration in the market b. the degree of actual or imagined differentiation between the products or services of competing producers c. the pricing behavior of the firms d. a and b e. a, b, and c
If the quantity demanded of a public good is greater than the quantity supplied,
a. an excess quantity demanded emerges, which could be eliminated (corrected) by the government decreasing taxes to allow people to buy more of the good b. it is proof that market failure exists c. it is proof that government failure exists d. an excess quantity demanded emerges, which could be eliminated (corrected) by the government increasing taxes to provide more of the good e. the market will create the supply to bring the market for the public good into equilibrium