After World War II the average U.S. recession has lasted:
a. a few months
b. about half a year.
c. a little less than a year.
d. about three weeks.
e. about two years.
c
Economics
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What term is defined as the change in the amount consumers will buy because the purchasing power of their money changes?
a. consumer taste b. consumer expectation c. income effect d. substitution effect
Economics
The average total cost curve is U-shaped. At the quantity of output where average total cost is at its minimum, is the marginal cost curve above the average total cost curve,
below the average total cost curve, or intersecting the average total cost curve?
Economics