What does the U.S. business cycle experience suggest about periods of war?
A) the economy tends to boom during the period of war
B) after the war is over, the economy typically experiences a downturn
C) they are associated with good economic times
D) all of the above
E) none of the above
D
You might also like to view...
Over a business cycle, the quantities of capital, human capital, and entrepreneurial talent
A) change gradually and do not fluctuate much. B) cycle alongside real GDP. C) are completely unpredictable and cannot be forecast. D) cycle more than real GDP. E) are constant and do not change.
The primary difference between monopolistic competition and perfect competition is the number of firms in the market
Indicate whether the statement is true or false
In the kinked-demand model of noncollusive oligopoly, if one firm increases its price, the most likely reaction of the other firms will be to:
A. increase their prices. B. decrease their prices. C. not change their prices. D. fix prices.
How is the price-change formula to predict the change in the equilibrium price resulting from a change in demand calculated?
A. by dividing the percentage change in price by the sum of the price elasticities of supply and demand B. by dividing the percentage change in demand by the sum of the price elasticities of supply and demand C. by dividing the percentage change in supply by the sum of the price elasticities of supply and demand D. by dividing the percentage change in income by the sum of the price elasticities of supply and demand