A stock with a price-earnings ratio of 11.2 means that the stock is selling for a closing share price that is 11.2 times its latest available net earnings per share.

The short-run Phillips curve shifts from SRPC0 to SRPC1 as a result of

A) a fall in the expected inflation rate. B) an increase in the natural unemployment rate. C) a rise in the expected inflation rate. D) a decrease in the natural unemployment rate. E) None of the above answers is correct.

Short-run macroeconomic equilibrium occurs when the quantity of real GDP demanded ________

A) equals potential GDP B) equals full-employment GDP C) does not equal full-employment GDP D) equals the quantity of real GDP supplied