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A business cycle is the period of time in which ?
1. The price level varies with real GDP.
2. A business is established and ceases operations.
3. Expansion and contraction of economic activity are equal.
4. There are four phases: peak, recession, trough and recovery.
5. None of these are true.
Firms can shift their marginal cost curves to the right, resulting in higher outputs at the same or lower maximum-profit prices. This can be done by
It has been proposed that toll collection on the Massachusetts Turnpike, a key commuter route into Boston from the west, be discontinued. Proponents argue that tolls have long ago paid for the cost of building the road
explain how rent seeking can lead to a drop in production of goods and services. what role might the underground economy play in lessing the drop in productie activities.
Find out the quantity at which profits are maximal. given that quantity, find out the price charged and monopolist's profits. (solve for answers using the equations)
1.explain how the electoral college works the situations in which it has produced controversial results and the
Based on the demand curve for asparagus above, what is the relationship between asparagus and good Z? What is the equation of the demand curve for asparagus if the price of good Z is $20?
What is Tom's 'real' hourly wage rate? How much will it be if he had 128 hours of leisure (= worked 40 hours)d. Tom chooses to work 40 hours a week. On the above graph, draw Tom's indifference curves between leisure and money so that this is his opt..
if the product price is 4 per unit and the price of the factor of production is 80 per unit the profit-maximizing
general electric which produces light bulbs, jet engines, washing machines, and so on, kinko's which has a photocopy store near many colleges and univesities, usx corporation which owns ore and coal mines, coke ovens, blast furnaces, mills, and foun..
Assume that the aggregate demand curve is P=120 - Q, where P is price level and Q is real output. If the short-run aggregate supply curve
What is the difference between a publicly held company and a privately held company? How can the two types of companies be identified?
Societies are frequently concerned about whether police are vigilant in carrying out their responsibilities. Many societies have experimented with incentive compensation for police.
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