If the short-run Phillips curve has a very steep slope, the
a. structural deficit will grow during inflation.
b. structural deficit will fall during recession.
c. inflation costs of reducing unemployment are relatively low.
d. inflation costs of reducing unemployment are relatively high.
d
Economics
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If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity demanded from 100 to 80 units, then the value of price elasticity of demand is
a. -1/3 b. -2 1/3 c. -1/4 d. -3 e. -2/3
Economics
Each of the following is an example of capital, except
A. an office building. B. gold. C. an assembly line. D. a computer system
Economics