An economic variable that moves in the opposite direction as aggregate economic activity in the business cycle is called:
(a) Acyclical;
(b) Procyclical;
(c) Countercyclical;
(d) A leading variable.
Answer: (c) Countercyclical;
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
The firm in the figure above is in monopolistic competition. The firm has
A) no excess capacity. B) excess capacity of 10 units. C) excess capacity of 20 units. D) excess capacity of 30 units.
The national government can have a significant impact on the value of real estate through:
A. property tax policy B. income tax policy C. building Codes D. real estate licensing requirements
Americans are creating an enormous amount of solid waste daily—over 4 pounds per person per day. How is the United States coping with this extraordinary problem?
What will be an ideal response?