In the long run, there are no fixed costs
a. true
b. false
Answer: a. true
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Refer to the figure below. 
In the figure, which interval represents a business cycle recession?
A. A to B B. A to C C. B to C D. B to D
The slowdown in U.S. economic growth in the period 1974-95 was primarily caused by ________
A) falling labor growth B) falling capital growth C) falling productivity growth D) none of the above
If the consumer price index increased from 1.52 to 1.65, then it must be the case that ________ relative to prices in the base year.
A. some prices rose and some prices fell B. all prices rose C. the weighted average level of prices rose D. all prices fell
The present discounted value of R dollars to be paid in t years is
A. the future market value of receiving R dollars in t years. B. the amount you will have to save in the future to allow you to consume R dollars today. C. the amount you have to put aside now if you want to ensure that you end up with R dollars t years from now. D. equal to R × t years.