The 1930s were a period of
a. strong economic expansion and rapid growth of real output.
b. high rates of inflation coupled with a low rate of unemployment.
c. depressed economic conditions and prolonged high rates of unemployment.
d. strong growth of real output even though the general level of prices was declining.
C
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According to the above figure, what are the profits of the firm if it produces 50,000 units?
A) -$5,000 per day B) -$10,000 per day C) -$7,500 per day D) -$17,500 per day
The government often enacts regulation that benefits producers because
a. the government seeks to regulate in the best interest of the public b. consumers have less information than producers and therefore seek government protection c. consumers have a strong interest in matters that affect their standard of living d. producers have a strong interest in matters that affect their specialized source of income e. producers seek to act in the best interest of the public