If the Fed announced a policy to reduce inflation and people found it credible, the short-run Phillips curve would shift
a. right and the sacrifice ratio would fall.
b. right and the sacrifice ratio would rise.
c. left and the sacrifice ratio would fall.
d. left and the sacrifice ratio would rise.
c
Economics
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What two factors are necessary for demand?
a. desire for a good or service and its availability in the market b. desire for a good or service and the ability to pay for it c. the availability of a good or service and the ability to pay for it d. familiarity with a good or service and the desire to pay for it
Economics
Refer to Table 2-7. What is Minnie's opportunity cost of making an umbrella?
A) 1/10 of a hat B) 1/4 of a hat C) 4 hats D) 40 hats
Economics