If you look for a job for eighteen months after graduation, but fail to generate an offer, even after lowering your expectations, the economy is probably in the business cycle phase called a:

Which of the following statements is true about public goods?

a. They are always produced by the government. b. The market-determined output is efficient. c. The government can hire a private entity to produce a public good. d. Nonexcludability is sufficient condition for a good to classified as a public good.

Why would a firm keep producing even though it is losing money?

a. If the price is greater than the minimum average total cost, the firm will cover all its variable costs and lower its losses by paying off some of its fixed costs. b. If the price is less than the minimum average variable cost, the firm will cover all its variable costs and pay off some of its fixed costs. c. If the price is greater than the minimum average variable cost, the firm will cover all its variable costs and pay off some of its fixed costs. d. If the price is less than the minimum average variable cost, the firm will cover all its variable costs and pay off some of its fixed costs.