A phase in the business cycle in which the economy's real GDP declines is known as:
a. a depression.
b. a recession.
c. a downtick.
d. disequilibrium.
e. limited demand.
b
Economics
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In an oligopoly market, the Herfindahl-Hirschman Index is usually
A) greater than 2,500. B) below 1,000. C) between 100 and 1,000. D) between 200 and 2,000.
Economics
If an average cost pricing rule is imposed on the natural monopoly shown in the figure above, then the price will be
A) $2. B) $4. C) $5. D) $6.
Economics