Business cycles
A. have been a recurring source of debate to economic theory throughout history.
B. represent a fairly recent problem confronting economic systems.
C. show very regular and smooth patterns of ups-and-downs in economic systems.
D. cannot occur in market-based economic systems.
E. have been increasingly unstable over the past half century.
A. have been a recurring source of debate to economic theory throughout history.
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Cici's Pizza Most pizza restaurants charge by the pie or by the slice. Cici's has found a niche by charging a flat rate for the meal and allowing as many visits to the pizza buffet as the customer desires. How does this affect the make-up of its clientele?
A student seeking a job right after graduation should be especially attentive to
a. long-run growth patterns in the economy b. what is the current phase of the business cycle c. technological change d. sales of durable goods e. the duration of strikes
Most of what we buy and sell never makes it out of domestic markets
Indicate whether the statement is true or false
Setting taxes equal to marginal external costs are modeled by creating a new social cost curve that is
A. higher than the original demand curve. B. lower than the original supply curve. C. lower than the original demand curve. D. higher than the original supply curve.