If people assume that future rates of inflation will follow the pattern of inflation rates in the past, they are said to have
A) rational expectations. B) accommodative expectations.
C) unstable expectations. D) adaptive expectations.
Question 2
Ceteris paribus, in the long run, a negative supply shock causes
A) the long-run aggregate supply curve to shift to the left.
B) unemployment to fall below its short-run level.
C) equilibrium real GDP to fall.
D) the price level to rise initially, and then return to its lower level.
Population predictions for 2000–2050, using three different total fertility rates (
Pattern for Tactile Fremitus, Left Lateral Thorax
Child Labor Rates and GDP Worldwide
This image captures a protest of people who want the privilege of “naming” themselves.
Aggregates are people who happen to be in the same place at the same time.
Global pattern emerging