The period in the business cycle from a ________ to a ________ is called an expansion.
A. trough; new trough
B. trough; peak
C. peak; new peak
D. peak; trough
Answer: B
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The monetary base does NOT include
A) currency. B) reserves of depository institutions. C) checking accounts at commercial banks. D) commercial banks' reserves.
Government stabilization policy
A. cannot influence investment spending. B. can stimulate aggregate demand and thereby induce businesses to invest, but the amount is not totally predictable. C. can stimulate aggregate demand, but investment spending will not be affected. D. can stimulate aggregate demand, but only in the long run.
A competitive car wash currently hires 4 workers, who together can wash 80 cars per day. The market price of car washes is $5 per wash, and the price of workers is $60 per day. The car wash should hire a fifth worker if it would increase total production to at least:
a. 92 cars per day. b. 100 cars per day. c. 104 cars per day. d. 110 cars per day.
In regulated industries, the optimal regulation is to set price such that MC=P.
Answer the following statement true (T) or false (F)