Around 2/3 of poor female-headed families with children receive earnings from working

State and briefly explain whether or not the empirical evidence generally supports the belief that there is a fixed trade-off between unemployment and inflation, such that monetary policymakers can achieve the combination they prefer

What will be an ideal response?

If preferences exhibit the property of transitivity, then

a. the preferences are irrational. b. individuals prefer more government involvement in private markets than do people whose preferences are not transitive. c. preferences change over time more quickly than when preferences are not transitive. d. preferences satisfy one of the properties assumed to be desirable by Kenneth Arrow in Social Choice and Individual Values.