Which of the following describe the United States economy in 2008 and and the start of 2009?
A) Real GDP reached a peak.
B) The economy was in a recession.
C) The economy was in an expansion.
D) Real GDP per person increased.
E) None of the above answers is correct.
B
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The figure above shows Tanya's consumption possibilities. Tanya spends $100 per month on movies and restaurant meals. The price of a movie ticket is ________ and the price of a restaurant meal is ________
A) $7; $15 B) $10; $10 C) $20; $5 D) $5; $20
The profitability of the second mover in a Stackelberg model is
A) guaranteed to be negative. B) smaller than that of the first mover. C) greater than that of the first mover. D) greater than the Cournot profits.
Which of the following is an incorrect statement?
a. If for an activity MR>MC, then do more of it b. An incentive compensation scheme that increases MR will increase effort c. Fixed fees have no effect on effort d. Average cost is relevant to an extent decision
In an economy operating under flexible exchange rates, explain why the IS curve is downward sloping
What will be an ideal response?