Other things the same, continued technological progress and continued increases in the money supply would unambiguously lead to
a. rising prices only.
b. rising real GDP only.
c. rising prices and rising real GDP.
d. neither rising prices nor rising real GDP.
b
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A country reports that its inflation rate and unemployment rate have both increased. These changes could be the result of
A) a movement downward along the short-run Phillips curve. B) a movement upward along the short-run Phillips curve. C) a downward shift of the short-run Phillips curve. D) an upward shift of the short-run Phillips curve. E) a leftward shift of the long-run Phillips curve.
What is the term that explains why voters often lack knowledge of pending legislation, and lack knowledge of the views of candidates for office on a range of issues that affect their own (the voters') welfare?
A) rational ignorance B) regulatory capture C) the voting paradox D) logrolling