If the United States' unemployment rate is 10 percent and the capacity utilization rate is 70 percent, the economy is in the midst of a ____________.
Fill in the blank(s) with the appropriate word(s).
recession
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Refer to Figure 2-5. If the economy is currently producing at point Y, what is the opportunity cost of moving to point X?
A) 5 million tons of paper B) 19 million tons of steel C) 9 million tons of paper D) 5 million tons of steel
Answer the following statements true (T) or false (F)
1) Most games that managers face are one-shot games. 2) Managers of firms in a finitely repeated pricing game who want to engage in tacit collusion should consider methods to create a chance that the game will continue beyond the final period. 3) The credibility of an announcement by a firm's rival depends on how closely the firm's interests align with its rival. 4) If the manager of Propane R US wants to enhance the credibility of a threat it made to its rival firms, the managers of Propane R Us should keep their rivals in the dark about their planned actions. 5) It is optimal for a manager to make unpredictable decisions when a rival firm can benefit at the expense of the manager's decisions.
When all the factors of aggregate expenditure are influenced by income, the multiplier is no longer solely a function of the marginal propensity of consumption
a. True b. False Indicate whether the statement is true or false
A combination of inflation and recession is called:
A. deflation. B. stagflation. C. infusion. D. disinflation.