What stage of the business cycle immediately follows the trough?
a. Peak.
b. Expansion.
c. Recession.
d. Depression.
b
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Jenny sells lemonade in front of her house in the summer. Several other kids in Jenny's neighborhood also run lemonade stands in the summer. If the lemonade market is perfectly competitive and Jenny is charging the equilibrium price, then Jenny can increase her revenue if she:
A. keeps the price of her lemonade the same and increases the output. B. decreases the price of her lemonade and doesn't change her output. C. increases the price of her lemonade and decreases her output. D. increases the price of her lemonade and doesn't change her output.
Jane is a top-level executive and is very rich. Jane just ordered a car only to be told that she will have to wait three weeks for it to be delivered. Which of the following statements is true?
A) The car is not a scarce good. B) The car is a scarce good. C) Because Jane has unlimited funds, she incurs no opportunity cost in buying the car. D) Jane paid too much for a car that wasn't ready on time
The user cost of capital is negatively related to ________
A) the real rate of interest B) the depreciation rate C) the expected rate of change of the real price of capital D) the tertiary log of the nominal price of capital
All else equal, when the Federal Reserve Banks engage in an expansionary monetary policy, the interest rates received on government bonds usually:
A. fall. B. rise. C. remain constant. D. move in the same direction as the bonds' price.