Which of the following will be considered a lagging indicator of the business cycle?
a. Money supply
b. New building permits
c. Unemployment duration
d. Unemployment claims
e. New plant and equipment orders
c
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Katie finds that the marginal utility from a compact disc is 30 and the marginal utility from a pizza is 10. The price of a compact disc is $15 and the price of a pizza is $10. In order to increase her utility, Katie should
A) consume more compact discs and fewer pizzas. B) consume fewer compact discs and more pizzas. C) not change her consumption of pizza and compact discs. D) consume fewer compact discs and fewer pizzas.
Because each oligopolist cares about its own profit rather than the collective profit of all the oligopolists together,
a. they are unable to maintain the same degree of monopoly power enjoyed by a monopolist. b. each firm's profit always ends up being zero. c. society is worse off as a result. d. Both a and c are correct.