Refer to Figure 9-5. As a result of the tariff, domestic producers increase their quantity supplied by

The short-run Phillips curve is ________ than the long-run Phillips curve

A) flatter B) steeper C) less stable D) Both B and C are correct.

Which of the following is more nearly consistent with a global savings glut?

A) high interest rates and the global savings-World GDP ratio is low B) low interest rates and the global savings-World GDP ratio is low C) high interest rates and the global savings-World GDP ratio is high D) low interest rates and the global savings-World GDP ratio is high E) none of the above