Real GDP decreases during
A) the movement from trough to peak.
B) the movement from below potential GDP back to potential GDP.
C) the movement from peak to trough.
D) a decrease in unemployment.
C) the movement from peak to trough.
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In the long run, firms in monopolistic competition earn zero economic profit because
A) firms are free to enter and exit. B) their products are similar but slightly different. C) of over-reliance on product marketing. D) of collusion among the various sellers. E) their demand curves are horizontal.
Suppose Joe is maximizing total utility within his budget constraint
If the price of the last pair of jeans purchased is $25 and it yields 100 units of extra satisfaction and the price of the last shirt purchased is $20, then, using the rule of equal marginal utility per dollar spent, the extra satisfaction received from the last shirt must be A) 2,000 units of utility. B) 500 units of utility. C) 100 units of utility. D) 80 units of utility.
Suppose a monopolistically competitive firm sells 25 units at a price of $10. Calculate its marginal revenue per unit of output if it sells 5 more units of output when it reduced its price to $9
A) $270 B) $20 C) $4 D) $2.50
Which type of main institution in the international capital market most often is involved in foreign exchange intervention?
A) central banks B) non-bank financial institutions C) insurance companies D) corporations E) commercial banks