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Author Question: Over time, the percentage of total employment in services has ________ and in agriculture, ... (Read 110 times)

dollx

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on: Jun 29, 2018
Over time, the percentage of total employment in services has ________ and in agriculture, employment has ________.
 
  A) increased; increased
  B) decreased; increased
  C) stayed about the same; decreased
  D) stayed about the same; increased
  E) increased; decreased

Question 2

If the short-run Phillips curve shifts rightward, what happens to the tradeoff between inflation and unemployment? If the short-run Phillips curve shifts leftward, what happens to the tradeoff between inflation and unemployment?
 
  What will be an ideal response?


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amandalm

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Reply #1 on: Jun 29, 2018
Answer to Question 1

E

Answer to Question 2

A rightward shift of the short-run Phillips curve worsens the tradeoff between inflation and unemployment. With the rightward shift, a given level of inflation is now associated with a higher unemployment rate, or stated another way, a given unemployment rate is now associated with a higher inflation rate. A leftward shift of the short-run Phillips curve improves the tradeoff between inflation and unemployment. With the leftward shift, a given level of inflation is now associated with a lower unemployment rate, or stated another way, a given unemployment rate is now associated with a lower inflation rate.


dollx

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Reply 2 on: Jun 29, 2018
:D TYSM

ultraflyy23

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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