Multiple Choice
The idea behind the Phillips curve is that ________.
A) tightness in the labor market puts downward pressures on wages and prices
B) when the unemployment rate is low wages will increase
C) when firms raise wages to attract new workers,prices decrease
D) all of the above
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q21: If the Fed were to announce that
Q22: Technological advances lead to _.<br>A)a shift of
Q23: Which of the following shows a negative
Q24: Suppose the government lowers unemployment by hiring
Q25: An example of a price shock is
Q27: As wages and prices become more sticky
Q28: In the 1960s,the Phillips curve was _.<br>A)consistent
Q29: A.W.Phillips' 1958 paper examined unemployment and wage
Q30: If wages and prices become extremely flexible
Q31: Milton Friedman and Edmund Phelps contributed which