When it was introduced in 1958, the Phillips curve presented policymakers with a "menu" from which they could choose the appropriate:
a. combination of monetary and fiscal policy.
b. combination of inflation and unemployment.
c. level of aggregate money supply.
d. income tax rate.
b. combination of inflation and unemployment.
Economics
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Under a fixed exchange rate system, if the inflation rate in the United States is 0 percent a year and the inflation rate in Australia is 5 percent a year, then the U.S. real exchange rate will
A) may increase or decrease. B) decrease 5 percent a year. C) remain constant. D) increase 5 percent a year.
Economics
Advertising can enhance economic efficiency when it:
A. increases brand loyalty. B. raises entry barriers. C. increases consumer awareness of substitute products. D. boosts average total cost.
Economics