Rising unemployment and decreased business confidence could be signs that the economy is at the start of a(n):
A. recession.
B. boom.
C. expansion.
D. recovery.
Answer: A
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Impure public goods
A. are nonrival in consumption. B. cannot be priced in the market. C. are rival in consumption. D. are never provided by the private sector.
Profit is equal to
A. total revenue minus total cost. B. total revenue divided by total cost. C. total revenue divided by marginal revenue. D. marginal revenue minus marginal cost.
Sharply rising oil prices are most likely to lead to a
A. Negative demand shock B. Positive demand shock C. Negative supply shock D. Positive supply shock
If we compare income percentages of total income of the highest quintile in 1968 with 2008, we would find that it was
A. rising. B. staying about the same. C. falling.