Which statement is true?
A. There was a great deal of stagflation in the 1960s.
B. We had full employment for most of the 1980s.
C. We have had twelve recessions since the beginning of 1945.
D. None of the choices are true.
C. We have had twelve recessions since the beginning of 1945.
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Economic indicators, like unemployment claims and the average workweek, which change before real GDP changes, are called:
a. leading. b. lagging. c. coincident. d. structural.
The number of units of one good that trade for one unit of alternative goods can be determined most easily when
A. the goods all weigh about the same. B. the goods are actively traded through barter. C. the goods are all new. D. there is one unit of account.
A firm's total cost of production
a. always increases as it produces more output b. can increase or decrease as it produces more output c. increases at a decreasing rate as long as it produces more output d. is fixed in the short run, because inputs are fixed in the short run e. can be minimized by producing where the firm's demand curve crosses the horizontal axis
Place point X on the graph to indicate an unemployment rate of 10 percent.
