Refer to the information for this hypothetical economy provided in Table 20.1 below to answer the question(s) that follow.Table 20.1 2014 2015 2016QuarterIIIIIIIVIIIIIIIVIIIIIIIVOutput9094981029691888487949087Refer to Table 20.1. In this economy, a trough existed around the
A. fourth quarter of the year 2015
B. fourth quarter of the year 2014.
C. third quarter of the year 2016.
D. second quarter of the year 2015.
Answer: A
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Present and explain the Fundamental Equation of the Monetary Approach
What will be an ideal response?
Under a Cournot duopoly, the collusion curve represents:
A) all possible allocations of the pure monopoly quantity among the two firms in the duopoly. B) all possible allocations of the pure monopoly quantity that would be possible if the two firms in the duopoly did not cooperate. C) all optimal price-quantity outcomes for a cartel rather than a Cournot duopoly. D) the potential profits to be earned by firms in a collusive cartel.
The full-employment rate of output can
A) be surpassed in the long run only if input prices are flexible. B) not be surpassed in either the short run or the long run. C) be surpassed only when firms are not yet producing at full capacity. D) be surpassed only in the short run.
Which of the following would most likely cause the production possibilities curve for DVDs and food to shift outward?
a. A choice of more food and more DVDs. b. A choice of more food and less DVDs. c. A choice of more DVDs and less food. d. An increase in the quantity of natural resources.