The U.S. economy is experiencing falling output, falling employment, falling incomes and rising unemployment. These conditions best describe a business cycle ________

In the prisoners' dilemma game, each player

A) has only one possible strategy. B) can choose from two strategies. C) can choose from three strategies. D) can choose from four strategies.

If a demand curve shifts to the right, then

A) quantity demanded has decreased. B) quantity demanded has increased. C) demand has increased. D) demand has decreased.

If a firm traded on the New York Stock Exchange posts an accounting profit of $10 million, then the firm is making a positive economic profit

A) only if the Securities and Exchange Commission (SEC) approves the accounting report. B) only if the firm's opportunity cost is less than $10 million. C) only if the firm's opportunity benefit is more than $10 million. D) only if the firm's management receives stock compensation.

Which of the following would cause a decrease in the short-run aggregate supply curve (SRAS)?

a. An advance in technology b. An increase in the CPI c. An increase in oil prices d. An increase in the long-run aggregate supply curve (LRAS)