Changes in business activity are
A. referred to as the ebb and flow of business.
B. caused by the changing seasons every year.
C. always undesirable.
D. referred to as business fluctuations.
Answer: D
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Globalization
A) is the growing integration of the national economies of the world to such an extent that a single worldwide economy may be emerging. B) is any type of foreign trade. C) is specifically foreign trade between countries that have entered into a formal free trade agreement. D) will necessarily lead to higher unemployment rates in the United States.
Why might an oil cartel's effectiveness be undermined during a recession but strengthened during an economic boom?
What will be an ideal response?
If the price of a good falls, the marginal utility per dollar received from consuming a specific unit of that good
a. also falls b. stays the same c. rises d. will rise or fall, depending on the consumer e. remains unchanged, provided the consumer buys no more of the good
The demand curve facing a firm in monopolistic competition is elastic
Indicate whether the statement is true or false