A countercyclical variable ________
A) moves up during expansions and down during contractions
B) is another term for an acyclical variable
C) moves in the same direction as aggregate economic activity
D) all of the above
E) none of the above
E
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For products like parking lots and hotels, costs of building capacity are mostly fixed or sunk and firms in this industry typically face capacity constraints. Therefore,
a. If SRMR>SRMC at capacity, then the firms should price to fill capacity
b. If SRMR
The study behind the graphic for India, China, Brazil and the US showing income groups and percentages of total country income for each group highlights that how much of the differences in living standards can be explained by differences between countries:
A) 20% B) 45% C) 66% D) 90%