Which of the following macroeconomic variables is procyclical and coincident with the business cycle?
A. Unemployment
B. Residential investment
C. Nominal interest rates
D. Industrial production
Answer: D
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A monopolist is able to sell 5 units of output at $2.50 per unit and 6 units of output at $3.50 per unit. It will produce and sell the sixth unit if its marginal cost is:
a. $8.90. b. $8.50. c. $8.35. d. $8.00.
If aggregate demand turns out to be lower than anticipated, then the short-run equilibrium occurs at an output level ________ potential output. This difference between short-run equilibrium output and potential output is called a(n) ________ gap
a. below; expansionary b. below; recessionary c. above; expansionary d. above; recessionary
In 2015, approximately what percentage of the public debt was held by foreign individuals and institutions?
A. 41 percent B. 34 percent C. 15 percent D. 26 percent
A perfectly competitive firm's marginal cost curve above the minimum of the average variable cost curve is its:
A. short-run supply curve. B. average cost schedule. C. capacity output schedule. D. total revenue minus total cost schedule.