A standard definition of recession is
A) a period of expansion in many sectors of the economy.
B) an increase in GDP that lasts for at least 6 months.
C) a decrease in GDP that lasts for at least 6 months.
D) an increase in unemployment from one month to the next.
E) a period of time when the unemployment rate exceeds 6.5 percent.
C
Economics
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A natural monopoly is one that arises from
A) patent law. B) economies of scale. C) copyright law. D) any government-imposed barrier to entry. E) mergers.
Economics
If the desired reserve ratio is 10 percent and there is no currency drain, then a $100 increase in the monetary base leads the banking system to increase the quantity of money by
A) $1,000. B) $400. C) $900. D) $110. E) $1,100.
Economics