A recession would be a decline in real GDP for at least
A. one business quarter.
B. two business quarters.
C. one business year.
D. two business years.
B. two business quarters.
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Explain what is meant by "investment in children," describing the goals and methods of the parents
What will be an ideal response?
Which of the following statements best represents a difference between short-run and long-run cost?
A) Less than one year is considered the short run; more than one year the long run. B) There are no fixed costs in the long run. C) In the short-run labor must always be considered the variable input and capital the fixed input. D) All of the above are true.
Which of the following could be an example of a question that would be studied in microeconomics?
A. Why did our economic growth rate slow down during the 2000s? B. How did the recession end in 2009 if unemployment continued to rise? C. How will the legalization of marijuana in Colorado affect the market for cigarettes? D. When should Congress raise taxes in order to tackle the debt crisis?
When you keep your savings under your mattress, you are using money as a(n)
A. investment good. B. medium of exchange. C. unit of account. D. store of value.