According to this Application, some economists believe that recessions which are caused by ________ normally have ________ recoveries
A) high oil prices; faster B) financial crises; faster
C) high oil prices; slower D) financial crises; slower
D
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The problem arising in the used car market can be alleviated by
A. providing buyers with more complete information on the condition of a used car. B. sellers offering warranties. C. having third parties certify the condition of a used car. D. All of these statements are true.
Figure 3-13
Refer to . The market for margarine was initially in equilibrium at point e. Other things constant, a decrease in the price of butter, a close substitute for margarine, would likely move the equilibrium in this market toward point
a.
r.
b.
s.
c.
t.
d.
u.
The statement in a newspaper that "consumer prices rose last month by 1 percent, and if this trend continues, the annual rate of inflation will be 12 percent for the year" is an example of:
A. A normative economic statement B. A positive economic statement C. Microeconomic analysis D. Rational self-interest
Table 10.1Refer to Table 10.1, which shows the relationship between the price that Gladys charges for a product and the quantity of that product that Gladys sells. Gladys' marginal revenue becomes negative starting with the production of which unit?
A. 2 B. 4 C. 6 D. None of these; marginal revenue is always positive or zero.