In the above table, the working age population is

Suppose an economy experiences a permanent increase in its expected inflation rate. As a result, there is

A) a downward shift of the short-run Phillips curve. B) a downward movement along the short-run Phillips curve. C) an upward movement along the short-run Phillips curve. D) no change at all to the short-run Phillips curve. E) an upward shift of the short-run Phillips curve.

The use of money as a medium of exchange I. lowers transaction costs. II. permits more specialization

A) I only B) II only C) Neither I nor II D) Both I and II