Refer to the figure below. 
In the figure, a business cycle trough is shown by which point(s)?
A. D only
B. B and D
C. A and C and E
D. A only
Answer: C
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If the real wage rate decreases from $14.00 per hour to $13.00 per hour, the
A) demand for labor increases. B) quantity demanded of labor increases. C) quantity supplied of labor increases. D) equilibrium quantity of employment must decrease. E) supply of labor increases.
Net exports are the sum of
A) the current account balance and capital account balance. B) the balance of payments accounts. C) exports and imports. D) the private sector balance and the government sector balance. E) the current account balance and the official settlements account balance.
One of the reasons that concentration ratios are not a perfect measure of competitiveness is that they
A) do not measure how high the industry's prices are. B) cannot be measured. C) ignore potential competition. D) tell nothing about how high prices were in the past.
If market participants rely only past stock prices to forecast future stock prices,
A) they will be better able to forecast future price increases than future price decreases. B) they will be better able to forecast future price decreases than future price increases. C) they have adaptive expectations. D) they have rational expectations.