For the recessions in the United States since the 1950s
A) unemployment rises on average about 5 percentage points during the 12 months after a recession begins.
B) unemployment falls on average by 2 percentage points during the 12 months after a recession begins.
C) unemployment rises on average by about 1.2 percentage points during the 12 months after a recession begins.
D) cyclical unemployment has been non-existent.
C
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The top 10% of income earners pay ________ of federal income taxes.
A. 10% B. 53% C. 93% D. 71%
The law of diminishing marginal utility states that marginal utility must diminish after the first unit of consumption of every good or service
a. True b. False Indicate whether the statement is true or false
If a firm experiences economies of scale, the average total cost of production increases as output expands
a. True b. False Indicate whether the statement is true or false
In order to determine if a hypothesis is valid we must utilize a. qualitative analysis. b. empirical analysis
c. marginal analysis. d. average analysis.