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Author Question: The shape of the long-run Phillips curve suggests that over a long time horizon there is a magnified ... (Read 71 times)

beccaep

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on: Jun 30, 2018
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

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  • Posts: 310
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

d


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