In its original form, the Phillips curve depicted a situation in which an economy could reduce its unemployment rate by holding the inflation rate steady

The historical record for the United States over the last 100 years shows

A) mostly positive economic growth, though the Great Depression caused actual GDP to dip well below potential GDP. B) economic growth for about half the years and economic decline for the other half. C) growth until 1970 and then a period of constant per person real GDP. D) continuous economic growth for each year, although at different rates, throughout the entire century.

If marginal cost is rising

A) marginal product in rising. B) marginal product is falling. C) average variable costs is equal to marginal cost. D) average variable cost is above average total cost.