Which phase of the business cycle follows a recession?
A. recovery
B. recession
C. peak
D. trough
Answer: D
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Identify and explain 4 of the difficulties in making cross-country comparisons in health care outcomes
What will be an ideal response?
Suppose Katie, Kendra, and Kristen each purchase a particular type of cell phone at a price of $80 . Katie's willingness to pay was $100, Kendra's willingness to pay was $95, and Kristen's willingness to pay was $80 . Which of the following statements is correct?
a. For the three individuals together, consumer surplus amounts to $35. b. Having bought the cell phone, Kristen is better off than she would have been had she not bought it. c. Had the price of the cell phone been $95 rather than $80, Katie and Kendra definitely would have been buyers and Kristen definitely would not have been a buyer. d. The fact that all three individuals paid $80 for the same type of cell phone indicates that each one placed the same value on that cell phone.
If leakages are less than injections, equilibrium output will be
A. More than full-employment output, and an inflationary gap will occur. B. More than full-employment output, and a recessionary gap will occur. C. Less than full-employment output, and a recessionary gap will occur. D. Less than full-employment output, and an inflationary gap will occur.
Long-term contracts become longer:
A. when spot markets work well. B. when the exchange environment is more complex. C. when marginal costs are declining. D. when specialized investment becomes more important.