A trough is the
A) lower turning point of a business cycle when an expansion begins.
B) lower turning point of a business cycle when a recession begins.
C) upper turning point of a business cycle when an expansion begins.
D) upper turning point of a business cycle when a recession begins.
A
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If the market price in a competitive market is below the minimum of average variable cost, the firm will shut down
Indicate whether the statement is true or false
Suppose the interest rate on one-year U.S. T-bills is 4 percent and the interest rate on one-year British T-bills is 6.5 percent. If the dollar is at a one-year forward premium against the British pound of 3 percent, the covered interest differential is
A. equally favoring investments in both nations. B. in favor of investments in the United States. C. the same as the uncovered interest differential. D. in favor of investments in the United Kingdom.