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Author Question: The inflation associated with the oil embargoes of the 1970s resulted in: a. reduced unemployment ... (Read 49 times)

bobthebuilder

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on: Jun 30, 2018
The inflation associated with the oil embargoes of the 1970s resulted in:
 a. reduced unemployment because aggregate demand increased.
  b. reduced unemployment because aggregate demand fell.
 c. increased unemployment because aggregate demand increased.
  d. increased unemployment because aggregate demand fell.
 e. increased unemployment because aggregate supply fell.

Question 2

The inflation associated with the oil embargoes of the 1970s illustrated the _____ of the downward-sloping Phillips curve in the long run, as unemployment _____ during this period.
 a. validity; fell
 b. validity; rose
 c. fallacy; rose
 d. fallacy; fell
 e. fallacy; did not change


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nixon_s

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

e

Answer to Question 2

c


bobthebuilder

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Reply 2 on: Jun 30, 2018
Excellent

pratush dev

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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