Short-run movements along the Phillips curve
a. remind us of the dangers of confusing various types of unemployment
b. may determine long-run shifts of the same curve
c. are usually brief and dramatic
d. respond to different assumptions about consumer confidence
e. lead to long-run movements along the same curve
B
Economics
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If labor supply increases, the wage rate increases
a. True b. False
Economics
Suppose that Abdul opens a coffee shop. He receives a loan from a bank for $100,000 . He withdraws $50,000 from his personal savings account. The interest rate on the loan is 8%, and the interest rate on his savings account is 2%. Abdul's annual implicit cost of capital is
a. $8,000. b. $4,000. c. $2,000. d. $1,000.
Economics