Which of the following signals the start of a new expansion?
a. A boom period
b. A peak
c. An inflation
d. A contraction
e. A trough
e
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According to the text, the Fed and other policy makers are concerned about:
A. inflation rates that are too high only. B. inflation rates that are either too high or too low compared to its set target. C. inflations rates that are too low only. D. annual inflations rates that exceed 10%.
Under perfect competition, if a firm is suffering a loss,
a. MR exceeds ATC. b. AR equals AVC. c. AR equals ATC. d. AR is less than ATC.
Marginal profit is equal to
A) marginal revenue minus marginal cost. B) marginal revenue plus marginal cost. C) marginal cost minus marginal revenue. D) marginal revenue times marginal cost. E) marginal revenue divided by marginal cost.
Among the 23 long-standing members of the Organization for Economic Cooperation and Development (OECD), the highest rates of economic growth during recent decades have been achieved by
a. Western European countries. b. the countries with the smallest government expenditures as a share of GDP. c. the countries with the largest government expenditures as a share of GDP. d. the countries with the most rapid growth of government expenditures as a share of GDP.