The supply of loanable funds curve shifts leftward if the real interest rate rises

The phase of the business cycle that follows a recession is known as the:

a. peak. b. recession. c. recovery. d. trough.

A perfectly competitive firm produces in a market where the prevailing price is $25 . At its current output level of 10,000 units, its average total cost equals $15 . The firm is earning

a. a total money profit of $100,000 b. a total economic profit of $100,000 c. a total money profit of $250,000 d. a total economic profit of $250,000 e. both a total money profit and a total economic profit of $100,000