If you and your friends are still looking for a job eighteen months after graduation, even after lowering your expectations, you're probably living in the business cycle phase of a
a. recession
b. peak
c. boom
d. recovery
e. prosperity
A
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In the long run, a reduction in productivity will cause
A) an increase in the capital—labor ratio and an increase in consumption per worker. B) an increase in the capital—labor ratio and a decrease in consumption per worker. C) a decrease in the capital—labor ratio and a decrease in consumption per worker. D) a decrease in the capital—labor ratio and an increase in consumption per worker.
All of the following are true regarding transfer prices except which one?
A) The transfer price is the internal firm price on an input that input-producing division charges the input-using division. B) The transfer price is the internal firm price on an input that input-using division charges the input-producing division. C) Law in many nations state that a transfer price must equal the price charged to an independent customer. D) Transfer prices can affect the taxes a firm must pay.
To have more consumer goods in the future, we must
A) produce more capital goods today. B) lower current income. C) get government involved in the production process. D) stop producing all goods today.
A monopolist's profit maximizing price is $15 . At MC=MR, the output is 100 units and the MC is $10 . At this level of production, average total costs are $12 . Monopolist's profits are
a. $300 b. $1500 c. $500 d. None of the above