How has the pattern of fluctuations in overall U.S. business activity changed since World War II?
A) It has become less volatile.
B) Expansions have been eliminated.
C) Contractions have been eliminated.
D) Recessions have been eliminated.
A
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The fundamental economic problem faced by individuals is
A) scarcity. B) comparative advantage. C) fair allocations of goods and services. D) randomness in the distribution of income.
You are the Minister of Trade for a small island country with the following annual PPC:
You are negotiating a trade agreement with a neighboring island with the following annual PPC:
What's the minimum number of fish you would be willing to accept in exchange for a coconut?
A. 4 B. 3 C. 5 D. 2
Which of the following tests helps in the detection of heteroskedasticity?
A. The Breusch-Pagan test B. The Breusch-Godfrey test C. The Durbin-Watson test D. The Chow test
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced. B. an unattainable production point. C. what society wants. D. the economy's optimal production point.