The highest point of the economy, before the recession begins, is called
a. the business cycle.
b. an upswing.
c. the peak.
d. the trough.
c. the peak.
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Which of the following countries has medium to high levels of trade by world standards, but in 2008 had a moderate trade surplus?
a. Germany b. Japan c. the United Kingdom d. Sweden
Which of the following does not contribute to low farm productivity in poor nations?
A. Lack of effort. B. Limited infrastructure. C. Lack of machinery. D. Inferior technology.
The figure above shows the demand, marginal revenue, and marginal cost curves for Paul's Parrot pillows, a single-price monopoly producer of pillows stuffed with parrot feathers
When Paul maximizes his profit, the difference between marginal cost and price is A) $0. B) $40. C) $60. D) $30. E) $20.
Since 1900, real GDP per capita in the United States has ________ in the short run and has ________ in the long run
A) fluctuated; displayed a strong upward trend B) remained fairly stagnant; grown considerably C) decreased more often than it has increased; increased more often than it has decreased D) grown at a stable and consistent rate; wildly fluctuated