The actual rate of inflation is equal to the expected rate of inflation along the:
a. downward-sloping Phillips curve.
b. upward-sloping aggregate supply curve.
c. horizontal aggregate supply curve.
d. downward-sloping aggregate demand curve.
e. vertical Phillips curve.
e
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The law of demand indicates that:
a. every physical good has a use. b. when people want a good badly enough, they will find a way to pay for it. c. the desire for a good is unrelated to its price. d. the quantity of a good that people will buy is inversely related to the price of the good.
Investment spending
a. cannot be stimulated by decreasing the interest rate. b. is often the cause of business fluctuations in the United States. c. is a remarkably stable function of the level of real GDP. d. is the primary solution to recessions and inflations, according to John Maynard Keynes.