The business cycle progresses from an expansion to a peak to a recession and then to a trough
Indicate whether the statement is true or false
TRUE
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Game theory is most useful for analyzing
A) perfect competition. B) monopolistic competition. C) oligopoly. D) monopoly.
A ________ pays the owner a fixed coupon payment every year until the maturity date, when the ________ value is repaid
A) coupon bond; discount B) discount bond; discount C) coupon bond; face D) discount bond; face
Suppose an initial increase in government expenditure increases output by $50,000. If the size of the multiplier was 1.0, the size of the initial increase in government expenditure was _____
Fill in the blank(s) with the appropriate word(s).
Corn is produced in a perfectly competitive market. The demand for ethanol decreases. This will cause the individual corn farmer?s marginal revenue to ________ and their profit-maximizing level of output to ________.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease