A period of sustained growth in output in an economy is referred to as a(n) _____
a. expansion
b. contraction
c. peak
d. trough
e. recession
a
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A ________ is a formal organization of producers who agree on anticompetitive actions
A) duopoly B) cartel C) monopoly D) partnership
By looking at the marginal cost and marginal revenue curves, you can find out
a. if this firm should shut down. b. if this is a profitable business. c. at what output the firm would maximize profits or minimize losses. d. All of these.
The decline of the poverty rate for the elderly can be attributed to
a. Temporary Assistance for Need Families (TANF) b. tax increases c. Medicaid d. the political power of the elderly e. increased resource earnings
The smaller the marginal propensity to consume
A. the smaller the marginal propensity to save is. B. the large the multiplier is. C. the smaller the multiplier is. D. the smaller autonomous consumption is.