Which of the following does not affect the level of autonomous investment?
a. level of technology
b. expectations of future growth
c. rate of capacity utilization
d. rate of interest
e. level of income
E
Economics
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If workers underestimate inflation, the aggregate supply curve will tend to be
a. upward sloping. b. downward sloping. c. vertical. d. horizontal.
Economics
A vocal minority of economists, believers in the theory of rational expectations, insist that
a. the Phillips curve is downward sloping even in the short run. b. the Phillips curve is vertical even in the short run. c. a trade-off exists between inflation and unemployment even in the long run. d. expansionary fiscal and monetary policy can reduce unemployment without creating inflation.
Economics