How quickly can an increase in government spending increase the gross domestic product?

The Phillips curve shows the possible combinations of ________ and ________

a. potential output; the interest rate b. the interest rate; the unemployment rate c. the price level; real output demanded d. the inflation rate; the unemployment rate

Based on the simplified trade relations assumed in the textbook, if two countries specialize according to comparative advantage, and trade according to mutually satisfactory terms of trade, then each country's consumption-possibilities frontier will shift inward relative to autarky

Indicate whether the statement is true or false