The expansion phase of the business cycle is typically associated with higher ________ and lower ________.
A. employment; income
B. real GDP; unemployment
C. income; real GDP
D. unemployment; output
Answer: B
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Keynes hypothesized that the precautionary component of money demand was primarily determined by the level of
A) interest rates. B) velocity. C) income. D) stock market prices.
"Good" trusts were exempt from antitrust prosecution under the:
a. per se rule. b. Sherman Act. c. Clayton Act. d. rule of reason.
If all firms in a market have the same LRATC curve,
a. only one of them can survive in the long run b. the lowest possible long-run price is determined by LRATC at minimum efficient scale c. the highest possible long-run price is determined by LRATC at minimum efficient scale d. minimum efficient scale must be zero e. there is no minimum efficient scale
If a country's currency depreciates, which of the following will most likely happen?
a. Net exports will fall and aggregate demand will increase. b. Net exports will rise and aggregate demand will increase. c. Net exports will fall and aggregate demand will decrease. d. Net exports will rise and aggregate demand will decrease.