Purchases of Huggies diapers should
A) increase in recessions and decrease in expansions.
B) decrease in recessions and increase in expansions.
C) remain fairly constant over the business cycle.
D) increase in recessions and remain constant in expansions.
C
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The bonus of a plant manager in a vertically integrated firm is based on the following formula:
Bonus = 10,000 - 0.5(Qf - Q) where Qf is feasible production and Q is actual production. The value for Qf is provided by the plant manager at the beginning of the year. With this scheme, the plant manager has an incentive: A) to underestimate Qf. B) to overestimate Qf. C) to reveal the true Qf and make Q as small as possible. D) to reveal the true Qf and make Q as large as possible.
Refer to the graph shown.
A movement from points B to C represents a(n):
A. upturn. B. recession. C. peak. D. trough.