If people assume that future rates of inflation will follow the pattern of inflation rates in the past, they are said to have
A) rational expectations. B) accommodative expectations.
C) unstable expectations. D) adaptive expectations.
Question 2
Ceteris paribus, in the long run, a negative supply shock causes
A) the long-run aggregate supply curve to shift to the left.
B) unemployment to fall below its short-run level.
C) equilibrium real GDP to fall.
D) the price level to rise initially, and then return to its lower level.
A king cheetah showing its distinctive coat pattern
Earthquakes Don’t Kill People—Collapsing Buildings Do
Environmental Science Toward a Sustainable Future
Typical pattern of the stages of labour for first births and subsequent births
Collage of people showing emotions
The regions of the human X chromosome distinguished by its banding pattern