A Phillips curve shows the short-run relationship between
A) potential GDP and real GDP.
B) the nominal interest rate and the real interest rate.
C) tax rates and tax revenues.
D) the unemployment rate and the inflation rate.
D
Economics
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Any point on the production possibility frontier is
A) attainable and might be allocatively inefficient. B) attainable and must be allocatively efficient. C) less production efficient than a point in the interior of the PPF. D) always allocatively efficient but might or might not be production efficient. E) always production efficient and always allocatively efficient.
Economics
In mid-2008, estimated losses on mortgages were estimated to be about ________ of U.S. GDP
A) 2% B) 5% C) 7% D) 9%
Economics