Which of the following is always a characteristic of the contraction phase of the business cycle?
A) lower unemployment rates
B) a decline in Real GDP
C) higher inflation rates
D) a decline in GDP
E) all of the above
B
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It generally costs advertisers more to run a commercial on television in the evening than in the morning because
A) it costs stations and networks more to broadcast any given commercial in the evening. B) overtime wage rates must usually be paid in the evening. C) stations and networks ignore their own costs in setting their prices. D) the government regulates television content but not prices.
Monopolies will tend to produce a greater quantity and charge higher prices than perfectly competitive industries
a. True b. False Indicate whether the statement is true or false
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Answer the following statement(s) true (T) or false (F)
In an economy experiencing a declining stock of capital:
A. depreciation is greater than gross private domestic investment. B. disposable income exceeds personal income. C. nominal GDP exceeds real GDP. D. gross private domestic investment is greater than depreciation.