The natural rate hypothesis implies that the long-run Phillips curve will be:
a. downward-sloping.
b. upward-sloping.
c. vertical.
d. horizontal.
c
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Which of the following do you know for certain is true? a. The marginal utility of Diane's second Coke is greater than the marginal utility of her third pretzel
b. The marginal utility of Diane's second Coke is greater than the marginal utility of Ken's third pretzel. c. The marginal utility of Diane's second Coke is greater than the marginal utility of her third Coke. d. The total utility of two Cokes is greater than the total utility of three Cokes. e. The marginal utility of Diane's second Coke is greater than the marginal utility of Ken's third Coke.
Figure 11-1
?
In Figure 11-1, the economy is experiencing a(n)
A. inflationary gap equal to EF. B. inflationary gap equal to ET. C. recessionary gap equal to ET. D. recessionary gap equal to FT.