The period between a business cycle peak and a business cycle trough is called
A) recalculation. B) recession. C) diffusion. D) expansion.
B
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Suppose a developing country experiences a reduction in machinery and capital equipment as foreign entrepreneurs decrease the amount of investment in the economy. As a result,
A) the economy will move up along the long-run aggregate supply curve. B) the long-run aggregate supply curve will shift to the left. C) the long-run aggregate supply curve will shift to the right. D) the economy will move down along the long-run aggregate supply curve.
In the long run, the typical firm in this market will produce a quantity equal to 
A. q3. B. q2. C. q1. D. Q1.
Which of the following pieces of legislation is NOT aimed at curbing the negative effects of asymmetric information?
A. Securities and Exchange Act B. Lanham Act C. Robinson-Patman Act D. Truth in Lending Simplification Act
Answer the question on the basis of the following information: Harry owns a barber shop and charges $6 per haircut. By hiring one barber at $10 per hour, the shop can provide 24 haircuts per eight-hour day. By hiring a second barber at the same wage
rate, the shop can now provide a total of 42 haircuts per day. Refer to the given information. The MRP of the second barber is: A. 18 haircuts. B. $108. C. 42 haircuts. D. $126.