Assume the analysis of Friedman and Phelps is correct, so that the following equation is valid: Unemployment rate = Natural rate of unemployment - a × (?ctual inflation - x). In this equation,
a. a is a parameter that measures how much actual inflation responds to expected inflation.
b. a = 0 at the point of intersection of the short-run and long-run Phillips curves.
c. x is the expected rate of inflation.
d. All of the above are correct.
c
Economics
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The health care market in the United States is characterized by
A) considerable government involvement. B) third-party payment of health care costs. C) asymmetric information between providers and consumers. D) all of the above
Economics
This graph shows the cost and revenue curves faced by a monopoly. 
According the graph shown, the profit-maximizing decision of the monopolist would be:
A. Q1, P1. B. Q2, P2. C. Q1, P3. D. Q1, P2.
Economics