The slow growth of U.S. incomes during the 1970s and 1980s can best be explained by
a. unstable economic conditions in Eastern Europe.
b. increased competition from abroad.
c. a decline in the rate of increase in U.S. productivity.
d. a strong U.S. dollar abroad, hurting U.S. exports.
c
Economics
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If the annual inflation rate in an economy is negative, the purchasing power of a dollar:
A) will remain the same over time. B) will increase over time. C) will decrease over time. D) can increase or decrease depending on the nominal interest rate.
Economics
An increase in frictional unemployment will
A) shift the long-run Phillips curve to the right. B) shift the short-run Phillips curve to the right. C) increase the natural rate of unemployment. D) All of the above are correct. E) None of the above is correct.
Economics