The NBER focuses primarily on the value of real GDP while deciding whether an economic contraction is a recession, because it is measured monthly and allows the identification of the month in which business-cycle turning points occur
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the graph below.
In the 1980s, digital publishing reduced the cost of producing books. Assuming no change in the cost of producing DVDs, which of the shifts reflects this change in technology?
A. I B. II C. III D. IV
A monopolist ________ if it chooses to sell fewer units of output.
A. can set its price wherever it desires B. cannot change the price C. must decrease the price D. can increase the price
Projections of the deficit, surplus, and debt picture are
A. highly sensitive to changes in the economy. B. usually accurate, as many as thirty years out. C. rarely accurate, even year to year, and are highly sensitive to changes in the economy. D. rarely accurate, even year to year.
Refer to Table 10.2. The marginal product of the fifth unit of labor is:
A. 50. B. 40. C. 30. D. 20.