In goods markets ________ and in factor markets ________
A) households sell to firms; firms sell to households
B) firms sell to households; households sell to firms
C) households sell to firms; households sell to firms
D) firms sell to households; firms sell to households
B
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In the United States, recessions are informally defined as ________ in real GDP
A) two consecutive quarters of positive growth B) two consecutive quarters of negative growth C) three consecutive quarters of negative growth D) three consecutive quarters of positive growth
The analysis of asymmetric information problems is called ________
A) adverse selection B) microeconomics C) cybernetics D) agency theory
Rising unemployment and decreased business confidence could be signs that the economy is at the start of a(n):
A. recession. B. boom. C. recovery. D. expansion.
Which of the following is a marginal decision, rather than an either-or decision?
a. whether to recommend a friend for a job at your workplace b. whether to ask for a promotion c. how much money to invest in your savings account d. whether to look for another job