Refer to the figure below. 
In the figure, which interval represents a business cycle expansion?
A. A to B
B. B to D
C. B to C
D. A to C
Answer: A
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The value of total output and total income in the simple circular flow model
A) include only intermediate goods. B) are equal to each other. C) are measures of the economy's level of savings. D) are related in the sense that national income is less than national product.
Steve can tell if his car has been fixed or not—it works, or it doesn't—but he cannot tell how it was fixed. The car repair is a(n)
A) experience good. B) credence good. C) logo good. D) search good.
The order of payment of corporate earnings is bondholders, preferred stockholders, convertible stockholders, and finally common stockholders
Indicate whether the statement is true or false
Constant returns to scale are illustrated by
A. a downward sloping long-run average cost curve. B. a horizontal long-run average cost curve. C. an upward sloping long-run average cost curve. D. a long-run average cost curve that is shaped like an upside down U.