Which of the following is associated with peaks in the business cycle?
A. relatively high levels of unemployment
B. recessions
C. relatively low levels of unemployment
D. depressions
Answer: C
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Government gives subsidies to encourage production of products with beneficial externalities
a. True b. False Indicate whether the statement is true or false
The supply of a good will be more elastic, the
a. more the good is considered a luxury. b. broader is the definition of the market for the good. c. larger the number of close substitutes for the good. d. longer the time period being considered.
How are the following three questions related: 1) Do all demand curves slope downward? 2) How do wages affect labor supply? 3) How do interest rates affect household saving?
a. They all relate to macroeconomics. b. They all relate to monetary economics. c. They all relate to the theory of consumer choice. d. They are not related to each other in any way.
Which of the following is closest to the future value of a $100 deposit earning 5 percent interest annually after 5 years?
A. $1,268 B. $128 C. $105 D. $125