The Beveridge curve is
A) a positive relationship between unemployment and the inflation rate.
B) a positive relationship between the government deficit and aggregate output.
C) a negative relationship between the vacancy rate and the unemployment rate.
D) a positive relationship between the inflation rate and the nominal interest rate.
C
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Voluntary exchange increases economic efficiency
A) because neither the buyer nor the seller would agree to a trade unless they both benefit. B) because voluntary exchange only takes place with government permission. C) because it allows wealthy individuals to act altruistically and give to the poor. D) because it is free and consequently does not cost anything.
Basic economics indicates that the cornerstones of economic progress are
What will be an ideal response?