When inflation expectations changed during the 1967-1971 period, this change led to
A) the short-run Phillips curve shifting upward.
B) the short-run and the long-run Phillips curve both shifting upward.
C) an increase in the natural unemployment rate.
D) the long-run Phillips curve shifting leftward.
E) the long-run Phillips curve shifting rightward.
A
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The number of people receiving Medicare is expected to grow to 74 million by the year
A) 2105. B) 2020. C) 2025. D) 2075.
Which of the following can be concluded about the long-run performance of the U.S. economy? a. It has been able to create employment opportunities but only at the cost of high inflation. b. It has failed to generate sufficient aggregate demand in the economy
c. It has been one of the most productive economies in the world in terms of growth in real GDP. d. It has focused fiscal policies mostly at improving aggregate supply. e. It has suffered from huge fiscal deficits that dampened economic growth.