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Author Question: The owners of the resource ________ are paid ________. A) land; wages B) labor; profit C) ... (Read 38 times)

Medesa

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on: Jun 29, 2018
The owners of the resource ________ are paid ________.
 
  A) land; wages
  B) labor; profit
  C) capital; rent
  D) capital; interest
  E) entrepreneurship; wages

Question 2

How does the expected inflation rate affect the short-run Phillips curve tradeoff between inflation and unemployment?
 
  What will be an ideal response?


Anonymous

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The expected inflation rate affects the short-run Phillips curve. If the expected inflation rate increases, then the short-run Phillips curve shifts upward, which means there is a worse tradeoff between inflation and unemployment. If, however, the expected inflation rate decreases, the short-run Phillips curve shifts downward, thereby improving the tradeoff between inflation and unemployment.


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