Advertising is a ________ cost that is incurred by ________

The Field Hypothesis (2003) suggests that production possibilities expanded during the depression years. Much of the resulting increase in potential went unrealized, though. This explains why potential output in 1942 was greater than expected

Indicate whether the statement is true or false

Which of the following shifts the long-run Phillips curve left?

a. both an increase in the inflation rate and a decrease in the minimum wage rate b. an increase in the inflation rate, but not a decrease in the minimum wage rate c. a decrease in the minimum wage rate, but not an increase in the inflation rate d. neither a decrease in the minimum wage rate nor an increase in the inflation rate