Refer to Figure 28-8. A typical long-run Phillips curve would have the appearance of a curve running through points

Refer to Figure 17-1. Suppose that the economy is currently at point A. If the Federal Reserve engaged in contractionary monetary policy, where would the economy end up in the short run?

A) It would remain at point A. B) point B C) point C D) point D E) point E

The American Association of Retired Persons (AARP) provides checklists summarizing the voting and attendance records of legislators. Which of the following is true?

a. If the AARP's members were rational, it wouldn't have to do this. b. This policy is useless if AARP members are rationally ignorant. c. This policy is intended to reduce voters' rational ignorance by decreasing the cost of information. d. If AARP members read this information, their rational ignorance would be eliminated. e. If all voters in the nation read this information, their rational ignorance would be eliminated.