The original (1958 ) Phillips curve
A) showed that stagflation is inevitable.
B) showed the tradeoff between the use of monetary and fiscal policy.
C) has never been used as an important economic policy tool.
D) suggested a tradeoff between wage inflation and the unemployment rate.
E) none of the above
D
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In the game in Scenario 13.14,
A) R's dominant strategy is Q = 100; C has none. B) C's dominant strategy is Q = 100; R has none. C) Q = 100 is a dominant strategy for both R and C. D) Q = 100 dominates Q = 150 for both firms. E) the dominant strategy for both players is to choose the same level of output, so long as it is not 150.
The recent merger of Southwest Bell (SBC) and AT&T companies is an example of a
A) horizontal merger. B) vertical merger. C) consolidation merger. D) cooperative merger.