The business cycle has two phases,
A) expansion and peak.
B) recession and trough.
C) peak and trough.
D) recession and expansion.
E) expansion and trough.
D
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Which of the following is correct when the perfectly competitive firm is producing its long-run equilibrium output level?
a. MR equals MC. b. AR equals ATC. c. P equals MC. d. All of these.
Using T-accounts show what happens to reserves at Security National Bank if one individual deposits $1000 in cash into her checking account and another individual withdraws $750 in cash from her checking account
What will be an ideal response?
Which sector consists of services traded for food, shelter, housing or other services?
(a) tertiary (b) secondary (c) primary (d) international
Suppose the short-run supply curve is a straight line of slope +1 that intersects the origin. The long-run supply curve will be
A) horizontal. B) steeper. C) shallower. D) vertical.