The Great Depression, in which real GDP fell and unemployment rose, can be characterized as a...
What will be an ideal response?
recessionary gap
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Investment, a key component of aggregate demand, can cause recessions and booms based on fluctuations in its levels
Indicate whether the statement is true or false
How is asymmetric information related to asset-price bubbles?
What will be an ideal response?
Employers choose to offer efficiency wages because:
A. it has proven to make workers more productive. B. they give employees an incentive to work hard to keep their jobs. C. it will reduce turnover, saving the employer time and money to hire and train new workers. D. All of these are true.
A monopoly's demand curve is P = 200 - 3Q and its MC = $20. How many customers should this company serve? What is the price paid by each customer? What will be the company's gross revenue in this venture?
What will be an ideal response?