During an expansion, the unemployment rate generally
A) rises.
B) falls.
C) is not affected.
D) is, by definition, below 5 percent.
E) is higher than during a recession.
B
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A monopolistically competitive firm is producing at an output level in the short run where average total cost is $4.50, price is $4, marginal revenue is $2.50, and marginal cost is $2.50. This firm is operating
A. with a loss. B. at the break-even point. C. with positive profits. D. at a nonoptimal level of output.
Why does the problem of the big tradeoff arise when the government engages in the process of redistributing income using taxes and transfers?
What will be an ideal response?
A congested side street in your neighborhood is
a. excludable and rival in consumption. b. excludable and not rival in consumption. c. not excludable and rival in consumption. d. not excludable and not rival in consumption.
According to the Five Forces Model, ________ are the five competitive forces that determine the level of competition and profitability in an industry.
A. buyers, suppliers, government, foreign competition, and weather B. rivals, consumers, labor, weather, and government C. rivals, buyers, suppliers, substitutes, and potential entrants D. None of the above is correct.