If the banking system is heavily into loans supported by stock market collateral, then any downward movement in stock prices that frightens banks enough to sell off their stock collateral will drive stock prices down even further

If the relative price of S were to rise, then an individual's indifference curve would rotate toward the T axis

Indicate whether the statement is true or false

In the late 1960s, the Friedman-Phelps "natural rate hypothesis" predicted from the microeconomic structure of the labor market that the long-run Phillips Curve is ________, while macroeconomic events caused a very ________ acceptance of this ch

in aggregate supply theory. A) horizontal, rapid B) horizontal, gradual C) vertical, rapid D) vertical, gradual