During the financial crisis Congress and President Obama authorized tax cuts and increases in government spending. According to the Phillips curve, in the short run these policies should have
a. reduced inflation and unemployment.
b. raised inflation and unemployment.
c. reduced inflation and raised unemployment.
d. raised inflation and reduced unemployment.
d
Economics
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Which of the following would be an example of capital for a retail gasoline station? (i) the gas tanks and pumps (ii) the service attendants' time (iii) the plot of land on which the station sits
a. (i) only b. (iii) only c. (i) and (iii) only d. (ii) and (iii) only
Economics
Owners of land are compensated according to the
a. absolute level of production from the land. b. number of laborers the land can support. c. purchase price of the land stock. d. value of the marginal product of land.
Economics