Examlex
Figure 13.11 Alt text for Figure 13.11: In figure 13.11, a graph of the Phillips curve.
Long description for Figure 13.11: The x-axis is labelled, unemployment rate percent, and the y-axis is labelled, inflation rate percent per year.A straight line labelled, short-run Philips Curve 1, begins at the top left corner and slopes down to the bottom center.A straight line labelled, short-run Philips Curve 2, follows the same slope as Curve 1, but is plotted to the right.A straight line labelled, long-run Philips Curve, is perpendicular to the x-axis, and intersects the short-run Philips Curve 1, at point A on the bottom end of both lines.Point B is plotted half way along the short-run Philips Curve 1.Long-run Philips Curve, intersects the short-run Philips Curve 2, at point C in the top half of both lines.Point D is plotted more than half-way along short-run Philips Curve 2.Points E and F are plotted close to the left and right ends, respectively, of the short-run Philips Curve 2.
-Refer to Figure 13.11.A follower of the new classical macroeconomics would argue that a contractionary monetary policy to lower inflation after a supply shock, like that pursued by the Bank of Canada in 1989, would result in a movement from ________.
Population Mean
The average of all the values in a population, representing the central or typical value of the population.
Confidence Interval
A collection of values obtained from statistical samples that is expected to encompass the value of an undetermined population parameter at a given confidence level.
Margin of Error
An expression of the amount of random sampling error in a survey's results, representing the range within which the true population parameter is expected to lie.
Margin of Error
The amount of error allowed in the results of a poll or survey, reflecting the confidence in the results.
Q57: Cutting taxes<br>A)will lower disposable income and lower
Q72: In preparing their estimates of the economic
Q94: A depreciation of a country's currency always
Q123: All else equal,a depreciation of the British
Q131: A decision by foreign central banks to
Q139: The _ curves are both vertical.<br>A)aggregate demand
Q140: The fact that the prices for McDonald's
Q180: An appreciating yen makes Japanese products<br>A)more expensive
Q196: If the demand for the yen increases
Q241: If actual inflation is less than expected