Holding everything else constant, if the nominal interest rate decreases, the interest paid on the debt will ________ the debt-to-GDP ratio, and nominal GDP growth will ________ the debt-to-GDP ratio

Income elasticity of demand is greater than zero for all of the following except

a. restaurant meals b. beer c. owner-occupied housing d. food e. rental housing

Which following segment(s) of the aggregate supply curve represents the Phillips curve trade-offs?

a. horizontal segment b. horizontal and the intermediate segments c. intermediate segment d. intermediate and the vertical segments e. vertical segment