Refer to Table 9.1. Use the rule of thumb to determine in which quarter Gigantica first entered a recession during the years 2010-2012

What are the two categories of cognitive biases identified by behavioral economists?

A. Unevolved capacity for solving modern problems and faulty heuristics. B. Bad information and lack of impulse control. C. Lack of intellect and mental disorders. D. Inability to reason and inability to delay gratification.

Assume a marginal propensity to consume of three-fourths. If private planned investment decreases by $10 billion and government spending increases by $13 billion, the national income will increase by

a. $4 billion. b. $12 billion. c. $3 billion. d. $2.25 billion.