A business cycle is actually a continuous series of different...
What will be an ideal response?
short-run macroeconomic equilibrium
You might also like to view...
Refer to Figure 17-2. Suppose the economy is at point C in the figure above. If workers adjust their expectations of inflation, which of the following will be true?
A) Workers and firms expect inflation to be 1%. B) The short-run Phillips curve will shift to the right. C) The natural rate of unemployment is 6%. D) The economy will move from C to A. E) The short-run Phillips curve will shift to the left.
Savings-and-loans were originally federally insured through the
A) FDIC. B) FSLIC. C) NCUSIF. D) Comptroller of the Currency.
If the market price is $4 and a perfectly competitive firm is producing 500 units and the marginal cost to produce the 500th unit is $4, which of the following is true?
A) The firm is maximizing profit. B) The difference between marginal revenue and marginal cost (MR - MC) for the 500th unit is negative. C) The difference between marginal revenue and marginal cost (MR - MC) for the 500th unit is positive. D) The firm should increase production to maximize profit.
Which of the following is TRUE of a perfectly competitive firm and a monopoly in the long run?
A) P = MC B) P = ATC C) MR = MC D) P = MR