A market where goods are sold in violation of governmentally-imposed restrictions is a(n)
A) black market.
B) export market.
C) rent-seeking market.
D) deadweight market.
Question 2
The shifts of the short-run and long-run Phillips curves in the figure above are the result of
A) an increase in the expected inflation rate.
B) an increase in the natural unemployment rate.
C) a decrease in the natural unemployment rate.
D) an increase in the actual inflation rate.
E) a decrease in the expected inflation rate.
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