Socially inefficient outcomes may occur in markets where there are:
a. negative externalities present

When the economy responds to a supply shock, there is ________ in the short run and ________ in the long run between inflation and unemployment

A) an inverse relationship; no trade-off B) no trade-off; an inverse relationship C) an inverse relationship; an inverse relationship D) no trade-off; no trade-off

Which of the following changes is most likely to happen when there is a decrease in the supply of money in a market that was initially in equilibrium?

a. The demand for money increases b. Planned investment spending increases c. Interest rate increases d. Aggregate expenditure increases e. The demand for money decreases