Author Question: In the long run, the economy is better off if policymakers exploit the short-run trad-eoff between ... (Read 47 times)

lbcchick · **on:** Jun 30, 2018

In the long run, the economy is better off if policymakers exploit the short-run trad-eoff between inflation and the unemployment rate.
a. True
b. False
Indicate whether the statement is true or false

Question 2

The nation's largest cable TV company tested the effect of a price reduction for premium movie channels. It increased prices from 20 to 30 per month and found virtually no change in the number of customers. This means:
a. the demand curve for the premium movie channels shifted to the right.
b. the supply curve for premium movie channels shifted to the left.
c. the demand for premium movie channels is very elastic in this price range.
d. the demand for premium movie channels is very inelastic in this price range.