Exhibit 12-1 Business cycle
?
In Exhibit 12-1, the recession phase of the business cycle can be represented by point(s):
A. CDE.
B. BCD.
C. EFG.
D. A and E.
Answer: A
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In order for a patent to be considered useful, it must meet which of the two criteria?
A) It serves some minimal human need and has a downward sloping demand curve. B) It works as intended and serves some minimal human need. C) It minimally works as intended. D) It works as intended and has downward sloping demand curve.
Which of the following is a category (degree) of inflation?
(a) Deflation. (b) Externally induced inflation. (c) Demand-Pull inflation. (d) Stagflation.
In terms of business strategy, managers will attempt to adopt business strategies that
A. stabilize opportunity costs. B. minimize transaction costs. C. minimize sunk costs. D. maximize transaction costs.
The real wage
A. automatically increases with the cost of living. B. is the nominal wage divided by the price level. C. is the nominal wage multiplied by the price level. D. is the price level divided by the nominal wage.