How long do most business cycles last?
A. Two full years
B. Two consecutive quarters
C. At least 10 years
D. Varying lengths of time
D. Varying lengths of time
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The above figure shows the demand and cost curves facing a monopoly. At the profit-maximizing price, the elasticity of demand equals
A) -1. B) zero. C) infinity. D) -3.
Explain how compensating differentials could contribute to differences between the average wages of men and women
When the Federal Reserve uses open-market operations to lower the Federal funds rate several times over a year, it is pursuing:
a. A Taylor rule policy b. A restrictive money policy c. A prime interest rate policy d. An expansionary money policy
The slope of a demand curve is not used to measure the price elasticity of demand because
A) the slope of a linear demand curve is not constant. B) the slope of a line cannot have a negative value. C) the measurement of slope is sensitive to the units chosen for price and quantity. D) the slope of the demand curve does not tell us how much quantity changes as price changes.