Analysis of the short-run Phillips curve suggests that policymakers who want to reduce unemployment in the short run should ______ aggregate demand at a cost of generating ______ inflation.

The theory of economic growth focuses on the

A. growth of real income equality in the long run; not on the growth of real income in the short run. B. growth of resources in the long run, not on the efficiency of resource use in the short run. C. growth of potential output over the long run, not on fluctuations in the level of economic activity in the short run. D. advancements in technology over the long run, not on short-run increases in real GDP.

When the market price is below the equilibrium price, suppliers are unable to sell all they want to sell

a. True b. False Indicate whether the statement is true or false