Measuring the intensity of the business cycle requires
a. adding seasonal variations to cyclical fluctuations.
b. adding seasonal variations and random fluctuations to cyclical changes.
c. eliminating seasonal variations and identifiable random forces from the data.
d. multiplying the trend by the cyclical fluctuations.
c. eliminating seasonal variations and identifiable random forces from the data.
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If Bobby decides that his marginal utility per dollar spent on vanilla ice cream exceeds his marginal utility per dollar spent on chocolate ice cream, he should then
A) buy more chocolate ice cream and less vanilla ice cream. B) buy more vanilla ice cream and less chocolate ice cream. C) buy all the vanilla ice cream he can. D) never buy chocolate ice cream.
According to Habakkuk (1962), the high price of western lands before the Homestead Act (1862) kept workmen in the eastern manufacturing cities and thus slowed down the rate of adoption of labor-saving technology
Indicate whether the statement is true or false
The general shape of the aggregate supply curve is
a. downward sloping. b. upward sloping. c. vertical. d. horizontal.
When the Fed purchases more bonds and, thereby, increases the money supply, the initial effects of the more expansionary monetary policy will often be weakened as a result of
a. lower nominal interest rates and a decline in the velocity of money. b. higher nominal interest rates and a decline in the velocity of money. c. higher nominal interest rates and an increase in the velocity of money. d. lower real interest rates and an increase in the velocity of money.