Recessions
A. almost never occur in the American economy.
B. follow a regular and predictable cycle.
C. are common features of the American economy.
D. have been abolished by wise macroeconomic policy.
Answer: C
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The total amount spent on new capital goods is called
A) financial capital. B) depreciation. C) net investment. D) wealth. E) gross investment.
In the United States, ________ percent of all firms are sole proprietorships
A) 4 B) 14 C) 72 D) 82
Suppose that each week Henry buys 12 peaches and 3 apples at his local farmer's market. Both kinds of fruit cost $1 each. From this we can infer that:
A. if Henry is maximizing his utility, then his marginal utility from the 12th peach he buys must be greater than his marginal utility from the 3rd apple he buys. B. Henry is not maximizing his utility. C. if Henry is maximizing his utility, then his marginal utility from the 12th peach he buys must equal his marginal utility from the 3rd apple he buys. D. for Henry the law of diminishing marginal utility does not apply to peaches.
In the Great Recession of 2007-2009, the aggregate expenditures schedule in the U.S. economy dropped, mostly due to a fall in:
A. Consumption spending B. Investment expenditures C. Government spending D. Net exports