Refer to the information for this hypothetical economy provided in Table 20.2 below to answer the question(s) that follow.Table 20.2 2014 2015 2016QuarterIIIIIIIVIIIIIIIVIIIIIIIVOutput98949010210510811010397949090Refer to Table 20.2. Which of the following quarters would we most expect to be associated with high unemployment?
A. the first quarter of the year 2014
B. the third quarter of the year 2015
C. the first quarter of the year 2015
D. the third quarter of the year 2016
Answer: D
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Small time deposits of $100,000 or less are classified as
A) part of M1. B) FDIC insured. C) part of M2. D) highly liquid.
Diseconomies of scale are present when the long run average total cost of production declines as output expands
a. True b. False Indicate whether the statement is true or false
If a profit-maximizing firm in a competitive market discovers that, at its current level of production, price is greater than marginal cost, it should
a. shut down. b. reduce its output but continue operating. c. continue to produce at the current levels. d. increase its output.
Which of the following individuals first discovered the relationship between unemployment and inflation?
A) Solow B) Samuelson C) Friedman D) Phillips