The end of a recession is called the:
A. peak.
B. boom.
C. expansion.
D. trough.
Answer: D
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The short-run Phillips curve suggests what policy making implications?
A) Using discretionary policies, it may be possible to achieve just the right unemployment and inflation mix. B) Active policy making does not yield any predictable results. C) Maintaining both the inflation and unemployment rates at low levels is possible if policy makers will rely solely on nondiscretionary policy making. D) Passive policy making is more effective than active policy making.
Economic growth focuses on ____________, utility focuses on ____________, and the capabilities approach focuses on __________________.
A. human development; individual pleasure; output B. output; human development, individual pleasure C. output; individual pleasure; human development D. human development, output, individual pleasure
Countries with more than 80 percent of their population living within 100 kilometers of a coast will have an average GDP per person that is
a. around four times a country with less than 20 percent of the population living near the coast. b. around ten times a country with less than 20 percent of the population living near the coast. c. around twenty times a country with less than 20 percent of the population living near the coast. d. around fifty times a country with less than 20 percent of the population living near the coast.
In which market structure does a firm have the LEAST influence over the market price?
A) monopoly B) monopolistic competition C) oligopoly D) perfect competition