Suppose an economy experiences a permanent increase in its natural unemployment rate. This change leads to
A) a downward movement along the short-run Phillips curve.
B) a leftward shift of the short-run Phillips curve.
C) a rightward shift of the short-run Phillips curve.
D) an upward movement along the short-run Phillips curve.
E) no change in the short-run Phillips curve.
C
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The above table gives the demand and supply schedules for cat food
If the price is $3.00 per pound of cat food, will there be a shortage, a surplus, or is this price the equilibrium price? If there is a shortage, how much is the shortage? If there is a surplus, how much is the surplus? If $3.00 is the equilibrium price, what is the equilibrium quantity?
Describe the choices that consumers make and explain why consumers are efficient on the market demand curve
What will be an ideal response?