Examining U.S. business cycles over time reveals that they ________
A) occur at regular intervals
B) are of uniform duration
C) are of similar magnitude
D) all of the above
E) none of the above
E
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Which of the following is a final good?
A) the memory chips in your new smart phone B) a share of IBM stock C) flour purchased at the store to bake cookies D) flour used by the bakery to bake cookies
Moe's reservation price for his economics textbook is $100. The week before the semester begins, Moe finds a copy of his textbook online for $75. Moe's consumer surplus from buying the textbook online is:
A. $100. B. $75. C. $125. D. $25.
Refer to the information provided in Table 14.5 below to answer the question that follows. Table 14.5B's Strategy ?AdvertiseDon't Advertise??A's profit $200 millionA's profit $400 million?AdvertiseB's profit $200 millionB's profit $100 millionA's Strategy????Don'tA's profit $100 millionA's profit $150 million?AdvertiseB's profit $400 millionB's profit $150 millionRefer to Table 14.5. If both firms follow a maximin strategy, the equilibrium in the game is
A. (Don't Advertise, Advertise). B. (Advertise, Don't Advertise). C. (Advertise, Advertise). D. (Don't Advertise, Don't Advertise).