Author Question: The shape of the long-run Phillips curve suggests that over a long time horizon there is a magnified ... (Read 68 times)

beccaep

  • Hero Member
  • *****
  • Posts: 535
The shape of the long-run Phillips curve suggests that over a long time horizon there is a magnified trade-off between the unemployment rate and inflation.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the demand for a good is perfectly inelastic, what will happen to the quantity demanded if there is a tiny increase in price?
 a. quantity demanded will increase proportionately
  b. quantity demanded will fall to zero
 c. quantity demanded will decrease proportionately
  d. quantity demanded will remain the same



mk6555

  • Sr. Member
  • ****
  • Posts: 310
Answer to Question 1

False

Answer to Question 2

d



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

For a complete list of videos, visit our video library