The ____ phase of the business cycle follows a recession
a. recovery
b. recession
c. peak
d. trough
d
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Which of the following is NOT a characteristic of a perfectly competitive market?
A. Sellers can easily buy and sell the productive resources needed to enter the market. B. Buyers and sellers are well-informed. C. Each firm in the market sells a somewhat different variant of the good. D. There are many sellers, each of which sells only a small fraction of the total quantity exchanged.
On the New York Stock Exchange, the specialist at a "post" acts as a(n)
A) broker. B) auctioneer. C) dealer. D) underwriter.
Medical malpractice law is designed to
a. encourage physicians to act as responsible agents for their patients b. punish those providers guilty of intentional misconduct c. provide an income for the insurance firms who sell malpractice insurance d. none of these choices
Economist Robert Fogel has estimated that by the year 2040, individuals in the United States will be spending
A) more time in the workforce and more time in leisure activities than they do today. B) less time in the workforce and less time in leisure activities than they do today. C) less time in the workforce and more time in leisure activities than they do today. D) more time in the workforce and less time in leisure activities than they do today.