As the economy goes through an expansion,
a. fluctuations in GDP become more severe
b. unemployment finally stabilizes
c. investment stabilizes
d. the classical model becomes a better predictor
e. unemployment falls.
E
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If the wheat industry is perfectly competitive with a market price of $4 per bushel and Farmer Brown charged $5 per bushel, how many bushels would Farmer Brown sell?
A) some, but fewer than he would at a price of $4 B) more than he would at a price of $4 C) just as many as he would at a price of $4 D) none E) More information is needed about the prices charged by the other wheat farmers.
Disney and Fox must decide when to release their next films. The revenues received by each studio depend in part on when the other studio releases its film. Each studio can release its film at Thanksgiving or at Christmas
The revenues received by each studio, in millions of dollars, are depicted in the payoff matrix above. Which of the following statements CORRECTLY describes Disney's strategy given what Fox's release choice may be? A) If Fox chooses a Thanksgiving release, Disney should choose a Christmas release. B) If Fox chooses a Christmas release, Disney should choose a Thanksgiving release. C) Disney should release on Thanksgiving regardless of what Fox does. D) Both answers A and B are correct.
On a world scale, how populous is the U.S. economy?
a. first b. second c. third d. fourth e. fifth
The study of economics
A. focuses on how a business should function. B. is a very narrow endeavor. C. is a way of analyzing decision-making processes caused by scarcity. D. is concerned with proving that capitalism is better than socialism.