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Author Question: Incorporation of expectations into economic decision making indicates that in the long run: a. ... (Read 42 times)

chads108

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on: Jun 30, 2018
Incorporation of expectations into economic decision making indicates that in the long run:
 a. inflation relates directly to unemployment.
  b. inflation is inversely related to unemployment.
  c. the Phillips curve is vertical at the natural rate of unemployment.
  d. high unemployment is a primary cause of inflation.

Question 2

Suppose a market basket of goods and services costs 400 in the base year and the consumer price index (CPI) is currently 125 . This indicates the price of the market basket of goods is now:
 a. 275.
  b. 425.
  c. 500.
  d. 525.


dpost18

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


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