Author Question: The Phillips curve based on the unemployment and inflation rates in the U.S. between 1961 and 1969 ... (Read 83 times)

bb · **on:** Jun 30, 2018

The Phillips curve based on the unemployment and inflation rates in the U.S. between 1961 and 1969 was:
a. upward-sloping.
b. downward-sloping.
c. horizontal.
d. vertical.
e. upward-sloping but kinked.

Question 2

If a price ceiling is not binding, then
a. the equilibrium price is above the price ceiling.
b. the equilibrium price is below the price ceiling.
c. it cannot be legally enforced.
d. None of the above is correct because all price ceilings must be binding.