Prices usually adjust fairly slowly; the speed of price adjustment can be summarized by
A) the Phillips curve
B) the AD-curve
C) the long-run AS-curve
D) the output gap
E) the trend path of GDP
Correct Answer:
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Q36: The official unemployment rate for the U.S.includes
A)people
Q37: The full-employment level of output is defined
Q38: If nominal GDP, prices, and population all
Q39: Which of the following countries had the
Q40: Labor is fully employed when
A)everyone is working
Q42: When an economist indicates that the economy
Q43: When the economy goes into a recession,
Q44: As the economy enters a boom we
Q45: The CPI is defined as
A)the cost-price index,
Q46: If we look at the inflation rate
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