Prior to almost all recessions since 1950, there has been a drop in
A) inflation.
B) the money stock.
C) the growth rate of the money stock.
D) interest rates.
C
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Interventionist economists
a. often advocate less interference in the private sector b. believe the economy should be left alone c. rely exclusively on peoples' expectations of future growth to bring the economy to long-run equilibrium d. advocate that government and the Fed correct what they believe ails the economy e. believe that the Federal Reserve should either remain independent or be eliminated
In the long-run equilibrium of a market with free entry and exit, if all firms have the same cost structure, then
a. marginal cost exceeds average total cost. b. the price of the good exceeds average total cost. c. average total cost exceeds the price of the good. d. firms are operating at their efficient scale.