Author Question: The Phillips curve describes a negative relationship between unemployment and inflation. a. True ... (Read 39 times)

Yi-Chen

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The Phillips curve describes a negative relationship between unemployment and inflation.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Bailey's Barber Shop knows that a 5 increase in the price of their haircuts results in a 15 decrease in the number of haircuts purchased. What is the elasticity of demand facing Bailey's Barber Shop?
 a. 0.05
  b. 0.10
  c. 0.33
  d. 3.0



scikid

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Answer to Question 1

True

Answer to Question 2

d



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