A policy change that reduces the natural rate of unemployment shifts both the long-run aggregate-supply curve and the long-run Phillips curve left

The segmented markets theory

A) has difficulty explaining why yield curves usually slope up. B) has difficulty explaining why yield curves usually slope down. C) has difficulty explaining why yields on instruments of different maturities tend to move together. D) provides a good explanation of why yields on instruments of different maturities tend to move together.

When there is only one buyer of labor in a community, we talk of a

A) monopoly. B) monopsony. C) monopolistic market. D) labor cooperative.