Which of the following is most closely related to recessions?
A. Positive long-run economic growth.
B. Rapid growth in the price level.
C. Falling rates of unemployment.
D. Negative real growth in output.
Answer: D
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Very low income families may feel despair or pessimism about their future and feel they have little control over their lives. This perspective is called:
a. Spiraling b. Fatalism c. Random disorder d. Depression
Part of the administrative burden of a tax is
a. the money people pay to the government in taxes. b. reducing the size of the market because of the tax. c. the hassle of filling out tax forms that is imposed on taxpayers who comply with the tax. d. the cost of administering programs that use tax revenue.
Discuss the interaction between economic growth and fertility.
What will be an ideal response?
Exhibit 6-9 Cost schedule for firm X OutputQuantity Total FixedCost Total VariableCost 0 $100 $ 0 1 100 50 2 100 84 3 100 108 4 100 127 5 100 150 As shown in Exhibit 6-9, the total cost of producing 4 units is:
A. zero. B. $227. C. $250. D. $100.