Between 1950 and 2009, the average length of recessions in the United States was
A) 11 months. B) two years. C) three months. D) eighteen months.
A
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Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25 and that a student's beverage budget is $20 per week. What is the most cups of tea the student could buy?
a. 20 b. 16 c. 10 d. 8
The existence of interdependence among firms in an oligopoly market
A. allows the analysis of the market through standard approaches. B. results in a monopoly outcome under virtually all circumstances. C. increases entry into the market. D. results in a great deal of difficulty in analyzing the behavior of firms.
Higher prices will increase total revenue if
A. Demand is inelastic. B. The price elasticity of demand is zero. C. Demand is unitary elastic. D. Demand is elastic.
The main factors that discourage investment in capital and skills in developing countries are
A) political instability, insecure property rights. B) political instability, insecure property rights, misguided economic policies. C) political instability, misguided economic policies. D) political instability. E) insecure property rights, misguided economic policies.