The short-run Phillips curve presents a tradeoff because a
A) lower unemployment rate can be achieved at the cost of a higher inflation rate.
B) higher inflation leads to a higher nominal interest rate.
C) lower unemployment rate can be achieved at the cost of a lower inflation rate.
D) higher price level leads to a lower real GDP.
E) higher unemployment rate can be achieved at the cost of a higher inflation rate.
A
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Which of the following is NOT necessary in order for a monopolist to practice effective price discrimination?
A) The marginal cost of providing the same good to different groups of buyers must be different. B) The monopolist must be able to segregate its market into different submarkets. C) The buyers in various markets must face different price elasticities of demand. D) The monopolist must have a downward sloping demand curve.
Executives should
A) spend an additional dollar on an activity if consumers value it by more than a dollar. B) do more of something if marginal revenue is positive. C) pend an additional dollar on an activity if consumers value it by less than a dollar. D) do more of something if average revenue is greater than zero.