In a three-phase business cycle, the recovery phase is always followed immediately by _______.
A. the peak
B. the trough
C. recession
D. prosperity
D. prosperity
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The increased use of automatic teller machines has decreased the demand for money
Indicate whether the statement is true or false
A monopolistic competitive firm’s quantity produced is which of the following?
a. Greater than a monopolist but less than a perfect competition firm b. Less than a monopolists but greater than a perfect competition firm c. Greater than a monopolists and greater than a perfect competition firm d. Less than a monopolists and less than a perfect competition firm
Economic aggregates are not observable in the "real world."
a. True b. False Indicate whether the statement is true or false
Christoph is a landlord in an area where rent controls have set the maximum price he can charge below the competitive equilibrium price. How can a landlord like Christoph be a “winner” in this situation?
a. by expanding his business and buying more properties b. by spending more to maintain his properties in perfect condition c. by breaking the law and finding ways to charge his tenants more d. by increasing demand by charging his tenants even less than the price ceiling