The Phillips curve will shift down with ________ or ________
A) a positive supply shock; an increase in expected inflation
B) a positive supply shock; a decrease in expected inflation
C) a negative supply shock; an increase in expected inflation
D) a negative supply shock; a decrease in expected inflation
B
Economics
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What is the effect on aggregate supply and potential GDP of an increase in the money wage rate?
What will be an ideal response?
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The marginal revenue product of a resource is equal to the value of marginal product when the product produced by the resource is sold in
a. a competitive price-taker market. b. a competitive price-searcher market. c. an oligopolistic market. d. a monopolistic industry.
Economics