Refer to Table 1-2. What is Thuy Anh's marginal benefit if she decides to stay open for an extra three hours instead of two hours?

"The long-run Phillips curve is vertical at the expected rate of inflation." Is the previous statement correct or incorrect?

What will be an ideal response?

When a central bank targets inflation, its inflation targets are usually specified as

A) a specific inflation rate target, for example, 1 percent. B) the short-term interest rate minus 2 percent. C) a point on the short-run Phillips curve. D) a range for the inflation rate. E) deviations from the inflation rate.