Author Question: Either supply shocks or adjusting inflation expectations can shift the short run Phillips curve. a. ... (Read 26 times)

armygirl · **on:** Jun 30, 2018

Either supply shocks or adjusting inflation expectations can shift the short run Phillips curve.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Which of the following holds true if a country is said to have a comparative advantage in the production of wheat?
a. The country can produce more wheat than any other nation.
b. The opportunity cost of producing wheat is the lowest in the country.
c. The price of wheat is the lowest in that country.
d. Domestic wheat is of the best quality in the world.
e. The country can produce only wheat.