During Prohibition the consumption of alcohol _____ and the crime rate _______
a. fell; fell
b. fell; increased
c. increased; fell
d. increased; increased
b. fell; increased
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One of the most important factors in determining the natural rate of unemployment is demographic change, such as a change in the age of the labor force
a. True b. False Indicate whether the statement is true or false
The price/earnings (PE) ratio of a stock is found by
a. dividing the most recent year's dividend by the current stock price b. dividing the current stock price by the after-tax profit per share c. dividing the most recent year's dividend by retained earnings d. dividing the current stock price by the Dow Jones Industrial Average e. dividing the current stock price by the present value of the firm
To close a recessionary gap, the government can:
a. employ an expansionary fiscal policy that will shift the aggregate demand curve to the right. b. employ a contractionary fiscal policy that will shift the aggregate demand curve to the right. c. employ a contractionary fiscal policy that will shift the aggregate demand curve to the left. d. employ an expansionary fiscal policy that will shift the aggregate demand curve to the left.
If marginal cost is below average total cost, average total cost will
A) be maximized. B) be decreasing. C) be increasing. D) remain constant.