The economy is in an expansion when it is
A) moving from a peak to a trough.
B) moving from a trough to a peak.
C) at its peak.
D) at its trough.
B
Economics
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Refer to Figure 18.3. In autarky, the maximum amount of pogo sticks that Livonia can produce is
A) 120. B) 100. C) 80. D) 40.
Economics
Economists assume people behave
A) instinctively. B) rationally. C) irrationally. D) greedily.
Economics
Income per person in the United States is approximately ____ that of Sierra Leone, Malawi, and Niger, three of the world's poorest countries
a. the same as b. double c. ten times d. fifty times
Economics
A labor union in a labor market is analogous to a(n) ________ in an output market.
A. perfect competitor B. cartel C. monopsony D. oligopoly
Economics