The period of growth in real GDP between the trough of the business cycle and the next peak is called the
a. recessionary phase.
b. expansionary phase.
c. contractionary phase.
d. cyclical phase.
B
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Suppose that Rosa is considering migration to another country. To move, she will have to spend $5000 on transportation and $4000 in application and other processing fees. Rosa's stream of future earnings in her home country is $500,000. She expects to earn a stream of future earnings of $800,000 in another country. Based on this information, Rosa will decide to migrate as long as the implicit costs of leaving her friends and family and adjusting to a new culture are:
A. Greater than $509,000 B. Less than $300,000 C. Less than $91,000 D. Less than $291,000
The theory that regulation helps producers to maximize profit is the
A) social interest theory. B) consumer surplus theory. C) antitrust theory. D) capture theory. E) oligopoly theory of regulatory bodies.
Which of the following Latin American countries had the strongest growth rate between 1960 and 2011?
A) Argentina B) Chile C) Peru D) Venezuela
Refer to Table 3.2, which shows some costs and benefits of having your car repaired. Suppose you use your car to deliver pizzas. If you earn $10 per hour delivering pizzas, what is the net benefit of 3 hours of car repairs?
A. $875
B. $1540
C. $905
D. There is not enough information to determine the net benefits.