Use the following diagram to answer the next question.
The straight line E drawn through the wavy lines would provide an estimate of the
A. natural rate of unemployment.
B. recovery trend.
C. recession fluctuation.
D. economic growth trend.
Answer: D
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People do not usually behave in a noncooperative fashion even when it is in their immediate interest to do so because
A) they realize such behavior is immoral. B) they know there can be 2 winners. C) they know they will have repeated dealings with the other people. D) they understand the difficulties with game theory.
If collusion was not illegal, than it is more optimal
a. For megastore to advertise and for superstore to advertise b. For megastore to advertise and for superstore not to advertise c. For megastore not to advertise and for superstore to advertise d. For megastore not to advertise and for superstore not to advertise
The labor force in an economy consists of all: a. the people in the economy who are not retired
b. the people in the economy over 16 years of age. c. the adults in the economy between 18 and 65 years old who are able to work. d. the civilian noninstitutional adult population that is either working or looking for work. e. the noninstitutional adult population who are graduates of high school.
The official definition of a recession is when real GDP declines for two consecutive quarters
a. True b. False