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In the early 1970s, the short-run Phillips curve shifted
Labor Market
The marketplace where workers seek employment and employers seek workers, defined by supply and demand for labor.
Marginal Productivity
The additional output that is produced by using one more unit of a factor of production, keeping all other factors constant.
Income Distribution
The way in which a nation’s total income is distributed among its population.
Factor Markets
Markets where services of the factors of production (land, labor, capital) are bought and sold.
Q21: Disposable income is<br>A)personal income minus personal taxes<br>B)national
Q41: If the central bank increases the money
Q52: The short-run Phillips curve is based on
Q53: What's the basis for arguing that deficits
Q117: Disinflation is defined as a<br>A)zero rate of
Q162: Which of the following shifts aggregate supply
Q206: If the long-run Phillips curve shifts to
Q298: An increase in inflation expectations shifts the
Q303: An increase in the money supply decreases
Q391: When the government reduces taxes, which of