Investing in risky assets in the hope of earning profits is called speculation

The concept of ________ explains how trade between two countries can make each better off

A) absolute advantage B) autarky C) trade barriers D) comparative advantage

Refer to Figure 28-4. Consider the shift in the short-run Phillips curves shown in the above graph. This shift may be explained by

A) either an increase in the natural rate of unemployment from 5.0 to 6.2 percent or an increase in the expected rate of inflation from 4.0 to 5.5 percent. B) an increase in the expected rate of inflation from 4.0 to 5.5 percent. C) an increase in the natural rate of unemployment from 5.0 to 6.2 percent. D) None of the above is correct.