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Author Question: The Phillips curve describes a negative relationship between unemployment and inflation. a. True ... (Read 68 times)

Yi-Chen

  • Hero Member
  • *****
  • Posts: 550
on: Jun 30, 2018
The Phillips curve describes a negative relationship between unemployment and inflation.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Bailey's Barber Shop knows that a 5 increase in the price of their haircuts results in a 15 decrease in the number of haircuts purchased. What is the elasticity of demand facing Bailey's Barber Shop?
 a. 0.05
  b. 0.10
  c. 0.33
  d. 3.0


scikid

  • Sr. Member
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  • Posts: 300
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

d


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