According to the Phillips curve, unemployment will return to the natural rate when:
A) nominal wages are equal to expected wages
B) real wages are back at long-run equilibrium level
C) nominal wages are growing faster than inflation
D) inflation is higher than the growth of nominal wages
Correct Answer:
Verified
Q14: In the equation C = 60 +
Q15: Keynes assumed the presence of --------- economy
Q16: Demand-pull inflation may be caused by:
A)an increase
Q17: Inflation:
A)always reduces the cost of living
B)always reduces
Q18: An increase in injections into the economy
Q20: What is the cause of inflation?
A)if money
Q21: What does the inflation imply?
A)rise in budget
Q22: How the inflation can be checked temporarily?
A)increase
Q23: Which groups are not protected from inflation?
A)industrial
Q24: Which of the following cannot be included
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