Which of the following is associated with peaks in the business cycle?
a. High unemployment
b. Recessions
c. Low unemployment
d. Depression
c
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In the above figure, the relationship between costs and quantity is negative
A) between point A and point B. B) between point B and point C. C) along the entire curve. D) nowhere along the curve.
The most volatile type of capital flow is
a. direct investment b. long-term bank lending c. stock market purchases d. short-term bonds e. none of the above is very volatile
In an economy where firms in most industries are purely competitive firms, individual firms in each industry would produce ________ products and have a ________ share of industry output
A) differentiated; large B) differentiated; small C) standardized; large D) standardized; small
Suppose we observe an economy experiencing an economic expansion and high inflation. This means the expansion is attributed to
a. an anticipated increase in aggregate demand. b. an increase in long-run aggregate supply. c. an unanticipated decrease in aggregate demand. d. an unanticipated decrease in aggregate supply.