During a recession, we generally see
real GDP rising and unemployment rising
real GDP falling and unemployment rising
real GDP rising and inflation rising
real GDP rising and inflation staying stable
real GDP falling and unemployment rising
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Refer to above Table 2-1. What is the level of Personal Saving?
A) 100 B) 90 C) 80 D) 130
For a perfectly competitive firm, any price below its minimum AVC is a
A) market price. B) shutdown price. C) profit maximizing price. D) negative price.
An increase in the demand for rubles causes the ruble to appreciate
a. True b. False Indicate whether the statement is true or false
A rationale for government involvement in a market economy is
a. markets sometimes fail to produce a fair distribution of economic well-being. b. markets sometimes fail to produce an efficient allocation of resources. c. property rights have to be enforced. d. All of the above are correct.