If the economy is experiencing lower levels of unemployment, the short-run Phillips curve suggests that ____ additional employment can be purchased at ____ rates of inflation
a. greater; relatively low
b. greater; higher
c. lower; lower
d. No such employment-inflation relationship is suggested by the Phillips curve.
b
Economics
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Real GDP is $13 trillion and aggregate planned expenditure is $14 trillion. As a result, unplanned inventory change is ________ and real GDP ________
A) negative; decreases B) positive; increases C) negative; increases D) positive; decreases E) negative; does not change
Economics
A profit-maximizing firm's demand function for labor can be found by differentiating:
a. the profit function with respect to w. b. the cost function with respect to w. c. the supply function with respect to w. d. the production function with respect to w.
Economics