Since the 1950s,
A) U.S. business cycle fluctuations have becomes more volatile.
B) U.S. business cycle fluctuations have not changed.
C) U.S. business cycle fluctuations have become milder.
D) the United States has not experienced a business cycle.
C
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Which of the following is not how economists describe the term "economic rent?:
A. The gains that workers and owners of capital receive from supplying their labor or machinery in factor markets. B. The producer surplus in output markets. C. The rental price of a factor of production minus the cost of supplying it. D. The total revenue that a factor of production earns its owner.
In the Keynesian model, equilibrium occurs when aggregate output equals aggregate expenditures
a. True b. False Indicate whether the statement is true or false
If a rich country reduced subsidies to domestic producers of goods that poor countries have a comparative advantage producing, the standard of living in these poor countries would likely rise
a. True b. False Indicate whether the statement is true or false
Profit per unit is equal to
A. Price divided by average total cost. B. Total revenue minus variable cost divided by quantity. C. Price minus average total cost. D. Total revenue minus total cost.