Does the short-run Phillips curve have a positive or negative slope? Explain how this slope is ...

Does the short-run Phillips curve have a positive or negative slope? Explain how this slope is derived.
 
  What will be an ideal response?

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Ques. 2

When the demand for a product is less elastic than the supply, consumers pay the majority of the tax on the product.
 
  Indicate whether the statement is true or false

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Ques. 3

If you transfer all of your currency to your checking account, then initially, M1 will ________ and M2 will ________.
 
  A) not change; not change B) decrease; increase
  C) increase; not change D) not change; increase

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Ques. 4

If real GDP increases we know for sure that
 
  A) prices have risen but output has remained constant.
  B) output has risen.
  C) prices have remained constant.
  D) prices have risen.

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Ques. 5

On the long-run aggregate supply curve
 
  A) an increase in the price level reduces the aggregate quantity of GDP supplied.
  B) an increase in the price level has no effect on the aggregate quantity of GDP supplied.
  C) an increase in the price level increases the level of potential GDP.
  D) an increase in the price level increases the aggregate quantity of GDP supplied.

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Ques. 6

The purchase or building by a corporation of a facility in a foreign country is called
 
  A) foreign direct investment. B) foreign capital depreciation.
  C) foreign portfolio investment. D) globally-directed investment.

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Ques. 7

Does the money demand curve have a positive slope or a negative slope? Why does it have this slope? Explain why an increase in the variable on the vertical axis of the money demand curve causes either an increase or a decrease in the variable on the
 
  horizontal axis of the money demand curve.

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Ques. 8

Refer to Table 20-8. Suppose that the data in the table above reflect the price levels in the economy. What is the inflation rate in between 2015 and 2016?
 
  A) 2 B) 5 C) 10 D) 12 E) 20

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Ques. 9

The long-run aggregate supply curve shows the relationship between
 
  A) short-run aggregate supply and short-run aggregate demand.
  B) the quantity of real GDP supplied and the quantity of nominal GDP supplied.
  C) the real interest rate and the nominal interest rate.
  D) the price level and quantity of real GDP supplied.