Suppose the economy is initially experiencing a recessionary ga
A) a reduction in the size of the recessionary gap and increase in real GDP.
B) an increase in the size of the recessionary gap and decrease in real GDP.
C) an inflationary ga
B
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A high school student who voluntarily includes a writing sample with their college application is an example of:
A. signaling. B. screening. C. building a reputation. D. statistical discrimination.
If the CPI today is 120 and the CPI five years ago was 80, then something that cost $1 five years ago would cost $1.50 in today's prices
a. True b. False Indicate whether the statement is true or false
Holding all other forces constant, if decreasing the price of a good leads to an increase in total revenue, then the demand for the good must be
a. unit elastic. b. inelastic. c. elastic. d. None of the above is correct because a price decrease never leads to an increase in total revenue.
Use the figure below to answer the following question.
The diagram above shows three supply curves for apples. A movement from point a to point b is caused by a change in the
A. price of resources used to produce apples. B. technology of apple farming. C. number of apple farmers. D. price of apples in the market.