Which of the following statements is correct?
A) The depth and the length of all business cycles are identical.
B) The depth and the length of all business cycles are different.
C) Business cycles are caused by seasonal unemployment changes.
D) Business cycles are caused by unanticipated inflation.
B
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The opportunity cost of leisure is approximated by:
a. the price of leisure activities (such as theater tickets). b. an individual's hourly real wage rate. c. commuting expense. d. an individual's total income.
How are the effects of a favorable supply shock shown in the Phillips curve diagram? If the Fed wants to return unemployment to its natural rate after the shock, what should it do?
The major difference between the for-profit and the not-for-profit organizational form is:
a. patients receive higher quality of care in not-for-profit hospitals. b. shareholders receive higher return on their investment in a not-for-profit environment. c. primarily the ability to transfer assets. d. for-profit hospitals do not provide charity care. e. the absence of a profit motive in the not-for-profit environment.
The table above gives data for the nation of? Pearl, a small island in the South Pacific. If aggregate demand increases so that the quantity of real GDP demanded is? $6 billion more at each price? level, the new equilibrium real GDP is
A) $34 billion.
B) $31 billion.
C) $28 billion.
D) $25 billion.
E) $23 billion.