What term is used to describe the lowest point of a business cycle?
A) peak
B) trough
C) expansion
D) recession
B
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Refer to the above figure. The highest price that consumers would be willing to pay for quantity Q2 is
A) P2. B) P0. C) P1. D) cannot be determined from the diagram.
Imposing a quota on metal softball bats shipped into the United States would likely:
a. increase the price of the bats but decrease the total quantity of bats purchased in the United States. b. increase the price of the bats and the total quantity of bats purchased in the United States c. leave the price of the bats unchanged but decrease the quantity purchased in the United States. d. leave both the price of bats and the quantity purchased in the United States unchanged.
Which, if any, of the present values below are computed correctly?
a. A payment of $100 to be received one year from today, with a 2 percent interest rate, has a present value of $98.81. b. A payment of $200 to be received two years from today, with a 3 percent interest rate, has a present value of $188.52. c. A payment of $300 to be received three years from today, with a 4 percent interest rate, has a present value of $234.34. d. None of the above are correct to the nearest cent.
_____________________ (Microeconomics/Macroeconomics) is the discipline that ezamines the performance and behavior of an economy as a whole.
Fill in the blank(s) with the appropriate word(s).