A Phillips Curve that has a negative slope is consistent with
A) a constant price level.
B) constant velocity.
C) an upward sloping aggregate supply curve.
D) a vertical aggregate supply curve.
C
Economics
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According to the "rational expectations" school of thought in macroeconomics, the short-run Phillips curve is ________ in face of unanticipated changes in monetary policy
A) negatively sloped B) vertical C) positively sloped D) horizontal
Economics
If a firm's marginal revenue is below its marginal cost, an increase in production will usually:
a. increase profits. b. leave profits unchanged. c. decrease profits. d. increase marginal revenue.
Economics