Does the recent increase in trend rate productivity experienced in the U.S. mean that the business cycle is dead?
What will be an ideal response?
No. The basic idea is that the trend line of economic growth is steeper for the recent increase in trend rate productivity. Nevertheless, it can still experience recession, which means that real output can fall below the now steeper trend line for a period of time.
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Figure 19-2
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Of the graphs in Figure 19-2, which one shows the effects on the exchange rate of an expansion in Japan?
A. 1 B. 2 C. 3 D. 4
Refer to Figure 12-5. What is the amount of the firm's fixed cost of production?
A) $5,400 B) $6,750 C) $8,100 D) It cannot be determined.
The NYSE is also called
A) the over-the-counter market. B) the Big Board. C) the Central Market. D) the Exchange.
At McDonald's, economies of scale at the firm level
a. can be traced to factors such as the use of centralized training and common menus for all restaurants b. exist only in the short run c. occur above the firm's minimum efficient scale d. can be traced to the diminishing marginal productivity of a variable resource, such as labor e. occur over the range of output for which the firm's total cost curve is upward sloping