A plot of points representing the rate of inflation and the unemployment for the United States since 1953 reveals that
A) there does not appear to be any trade-off between the two variables.
B) there is an inverse relationship between the two variables.
C) there is a positive relationship between the two variables.
D) none of the above.
A
Economics
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The availability of substitutes makes the demand for a good less elastic
Indicate whether the statement is true or false
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In a free-market economy, prices coordinate society's decisions about
a. how and for whom to produce. b. what, how, and for whom to produce. c. how and for whom to produce but not how much to produce. d. how much and for whom to produce but not how to produce.
Economics