The economy recovers quickly from most recessions, but the increase in adverse selection and moral hazard problems in the credit markets caused by ________ led to the severe economic contraction known as The Great Depression

Which of the following is NOT a benefit of economic growth?

A) reduction in illiteracy B) improved health C) urban congestion D) longer lives

The long-run Phillips curve shows the relationship between the ________ and the ________ when there is no ________ unemployment

A) inflation rate; employment rate; seasonal B) inflation rate; unemployment rate; cyclical C) inflation rate; unemployment rate; structural D) nominal interest rate; real interest rate; frictional E) nominal interest rate; unemployment rate; cyclical