All of the following took place during the economic crisis that began in 2007 EXCEPT:
A) the financial system was disrupted
B) large portions of the U.S. economy were cut off from the funds they needed to thrive
C) there was a devastating decline in the production of goods and services throughout the economy
D) unlike households, most businesses still had easy access to funds
D
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Homer's Donut Shoppe has the production function q = 10L +20L2 - 5L3. The average product of labor is
A) AP = 10 + 20L - 5L2 B) AP = 10 + 40L - 15L2 C) AP = 10L D) AP = 10 + 20L
When the economy is at full employment:
A. one cannot generalize in comparing the actual and the cyclically adjusted budgets. B. the cyclically adjusted budget will show a surplus and the actual budget will show a deficit. C. the actual budget will show a surplus and the cyclically adjusted budget will show a deficit. D. the actual and the cyclically adjusted budgets will be equal.