The tendency of many different economic variables to have regular and predictable patterns over the business cycle is called
A. comovement.
B. recurrence.
C. periodicity.
D. persistence.
Answer: A
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Indicate whether the statement is true or false
The cost of inflation to society includes I. The opportunity costs of resources used by people to protect themselves against inflation II. The costs associated with recalculating prices
A) I only B) II only C) Both I and II D) Neither I nor II
If a firm is using a resource hired in a perfectly competitive market, and if the marginal resource cost is less than its marginal revenue product,
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A monopolistically competitive market is marked by the barriers to entry of new firms in the long run
a. True b. False Indicate whether the statement is true or false