The dividing line between a recession and a depression is
A. unclear.
B. a ten percent rate of unemployment.
C. determined by government officials.
D. set by law.
A. unclear.
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Which of the following statements correctly differentiates between the slope of the demand curve and price elasticity of demand along a linear demand curve?
A) The price elasticity of demand for a good is the same at different points on the demand curve, whereas the slope of the demand curve varies depending on the point where it is measured. B) The price elasticity of demand for a good varies along the demand curve, whereas the slope of the demand curve remains the same at different points on the curve. C) The price elasticity of demand is a ratio, whereas the slope of a demand curve is a product. D) The price elasticity of demand is a product, whereas the slope of a demand curve is a ratio.
Firms 1 and 2 compete in a Cournot duopoly. If firm 2 adopts a strategy that raises firm 1's marginal cost:
A. firm 2 will enjoy lower profits. B. firm 1 will increase its output. C. firm 2 will gain market share. D. All of the statements associated with this question are correct.
Increases in real GDP would understate the well-being of a country over time if, over that time period, the
A) crime rate increased. B) percentage of people addicted to illegal drugs increased. C) amount of pollution decreased. D) average hours worked per week increased.
What is the relationship between the slope of the aggregate expenditure curve and the expenditure multiplier?
What will be an ideal response?