If you look at a graph depicting fluctuations in the U.S. economy (a record of its sequential business cycles), many of its peaks or prosperity phases seem to be associated with
a. economic, social, and political stability as well as peace
b. low unemployment and low prices
c. high unemployment and low prices
d. periods of military engagement
e. less government involvement in the economy
D
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Dan Unowsky manages a production group in a PC repair shop. He has noticed that the speed of repair is based on each worker doing one task. However, if an employee is out sick, then the entire repair process slows down. This is an example of
A. coordination costs. B. managerial ineptitude. C. the absolute need for every employee to be trained in all aspects of PC repair. D. the trade-off between low cross-training costs and reduced flexibility of the employees.
On the graph for a monopolist’s profit, area DABC shows ______.
a. marginal cost
b. total cost
c. marginal profit
d. total profit
The aggregate demand curve is directly derived from the expenditures schedule.
Answer the following statement true (T) or false (F)
If the CPI doesn't measure product quality improvements, the CPI tends to
A. Overstate the inflation rate. B. Understate economic growth. C. Be artificially low. D. Understate the inflation rate.