A recession is commonly defined as a period with
A) negative growth rate in real GDP that lasts at least one quarter.
B) positive growth rate in real GDP that lasts at least one quarter.
C) positive growth rate in real GDP that lasts at least two quarters.
D) negative growth rate in real GDP that lasts at least two quarters.
D
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Which of the following is not a precondition for price discrimination?
A. The commodity involved must be a durable good. B. The good or service cannot be profitably resold by original buyers. C. The seller must be able to segment the market, that is, to distinguish buyers with different elasticities of demand. D. The seller must possess some degree of monopoly power.
In a case where there are two possible work activities and two workers, which of the following is true regarding to comparative advantage?
a. One person can have a comparative advantage in both activities. b. Both people can have a comparative advantage in both activities. c. No one can have a comparative advantage in either activity. d. Each person must have a comparative advantage in one activity, but not both.