A profit-maximizing monopsonist will hire workers at the point where the marginal factor cost curve intersects the

A time-series graph measures

A) the value of one variable against the value of another variable. B) the value of an economic variable for different groups in a population at a point in time. C) time on the x-axis and the variable or variables in which we are interested on the y-axis. D) time on both the x-axis and y-axis and the variable or variables in which we are interested in the rest of the figure. E) time on the y-axis and the variable or variables in which we are interested on the x-axis.

Which of the following is true of the business cycle record of the United States?

a. Recessions have been lengthier during the last two decades than was true prior to 1980. b. Real GDP contracted throughout most of the 1950s. c. Real GDP in 2000 was approximately the same as 1950. d. Since 1950, the fluctuations in GDP have been less severe than before 1950.