After a business cycle trough a recovery follows
A. all of the time.
B. most of the time.
C. some of the time.
D. none of the time.
A. all of the time.
You might also like to view...
Use the following table, which lists output quantities and prices for the only three goods in the economy, to answer the next question. The base year is 2007.YearHot DogsBaseballsBottles of Beer?PriceQuantityPriceQuantityPriceQuantity2005$2.50100$2.5050$1.0010020064.001005.001002.0015020075.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250The Consumer Price Index for the year 2005 is
A. 150. B. 100. C. 50. D. 200.
An example of a randomized controlled experiment is when
A) households receive a tax rebate in one year but not the other. B) one U.S. state increases minimum wages and an adjacent state does not, and employment differences are observed. C) random variables are controlled for by holding constant other factors. D) some 5th graders in a specific elementary school are allowed to use computers at school while others are not, and their end-of-year performance is compared holding constant other factors.
Economists often examine GNP to estimate changes in the well being of people. If one only studied GNP, which of the following would lead one to underestimate the true increases in peoples' well being?
a. Increasing average hours of work. b. Decreasing life expectancy. c. Increasing levels of pollution. d. Increasing amounts of production in the home.
Since the 1980s, Wal-Mart stores have appeared in almost every community in America. Wal-Mart buys its goods in large quantities and, therefore, at cheaper prices. Wal-Mart also locates its stores where land prices are low, usually outside of the community business district. Many customers shop at Wal-Mart because of low prices. Local retailers, like the neighborhood drug store, often go out of
business because they lose customers. This story demonstrates that a. consumers do not react to changing prices. b. there are diseconomies of scale in retail sales. c. there are economies of scale in retail sales. d. there are diminishing returns to producing and selling retail goods.