The fact that business cycles are recurrent but not periodic means that
A) business cycles occur at predictable intervals, but do not last a predetermined length of time.
B) the business cycle's standard contraction—trough—expansion—peak pattern has been observed to occur over and over again, but not at predictable intervals.
C) business cycles occur at predictable intervals, but do not all follow a standard contraction—trough—expansion—peak pattern.
D) business cycles last a predetermined length of time, but do not all follow a standard contraction—trough—expansion—peak pattern.
B
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________ was the main proponent of the view that changes in the money supply can drive business cycles
A) Milton Friedman B) John Maynard Keynes C) Adam Smith D) David Ricardo
Supposing the market price for a price taking firm is known to be $10, the total revenue accruing to it if it sells 100 is ________ and the total revenue accruing to it if it sells 200 is ________.
A. $1000; $2000 B. $10; $10 C. $100; $200 D. $1000; $1000