The longest expansion since records have been kept began in
A. March 1991.
B. November 1982.
C. July 1980.
D. March 1975.
A. March 1991.
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Refer to the scenario above. What is the payoff to Firm B in equilibrium?
A) $2.6 million B) $0 C) $4 million D) $3 million
Charlie's consumer surplus from the first slice of pizza he buys is greater than the consumer surplus from the second slice because of
A) decreasing marginal benefits. B) increasing marginal benefits. C) decreasing marginal costs. D) increasing marginal cost.
An increase in the marginal propensity to consume (MPC) leads to a decrease in the spending multiplier
a. True b. False Indicate whether the statement is true or false
According to the graph showing rational expectations and the AD/AS model, expansionary policies will cause ______.
a. a move to a lower point on the short-run aggregate supply curve
b. a move to a higher point on the short-run aggregate supply curve
c. the short-run aggregate supply curve to shift to the left
d. the short-run aggregate supply curve to shift to the right