If the growth rate for GDP was 5 percent and GDP in year 1 was 140, then GDP in year 2 would be
A) 133.3. B) 135. C) 145. D) 147.
D
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Selling costs, such as advertising, are likely to be a large share of total cost in an industry that is
A) perfectly competitive. B) monopolistically competitive. C) a monopoly. D) non-profit.
The NBER's Business Cycle Dating Committee picks recession dates by looking at many variables, the four most important of which are industrial production, manufacturing and trade sales, nonfarm employment, and real personal income
These variables are known as A) leading indicators. B) coincident indicators. C) lagging indicators. D) recession indicators.
Refer to Scenario 10.8. Suppose that the regulatory agency sets your price where average revenue equals average cost. How much profit will Adriana make?
A) She will lose money and will go out of business. B) She will break even. C) She will make a profit. D) none of the above
Example of structural unemployment?
A. Factory worker temporally laid off during a recession. B. Recent Graduates C. A mother chooses to stay with child instead of working. D. Unskilled worker can't get hired because the minimum wage is too high. E. A retired person living off her saving.