The economy experiences an expansionary phase in the business cycle, what happens to output and price levels?

If China’s GDP in 2014 is 59,665.10 yuan and the U.S. GDP is $16.8 trillion in the same year, what is China’s GDP in dollars for 2014 if the exchange rate is 6.716 yuan =$1. (Enter your value as a numeric value with two decimal places e.g. 1000.02)

Given the table below, what rate of output maximizes total profit? Number of Baskets Price Total Revenue Total Cost Marginal Cost A 0 — $0 $10 — B 1 $13 $13 $15 $5 C 2 $13 $26 $22 $7 D 3 $13 $39 $32 $9 E 4 $13 $52 $44 $13 F 5 $13 $65 $61 $17  

Refer to the table below.  Since 1950, in what year was the longest recession?  Enter your answer as an numeric date e.g. 1929. Dates Duration (Months) Percentage Decline in Output 1929 43 -26.70% 1937 13 -18.2 1945 8 -12.7 1948 11 -1.7 1953 10 -2.6 1957 8 -3.7 1960 10 -1.6 1969 11 -0.6 1973 16 -3.2 1980 6 -2.2 1981 16 -2.7 1990 8 -1.4 2001 8 -0.3 2007 18 -5.1  

A basic purpose of macroeconomics is to explain:

True or False.  Discretionary fiscal policy happen quickly where as automatic stabilizers take time to implement

A person is very hungry and eats a cookie.  Then consumes a second cookie, a third cookie and a fourth cookie.  Which of the following statements is accurate.

According to the information presented by the author in this chapter, which group had the highest unemployment rate in 2010?

A basic purpose of macroeconomics is to explain:

Given the table below, what rate of output maximizes total profit? Number of Baskets Price Total Revenue Total Cost Marginal Cost A 0 — $0 $10 — B 1 $13 $13 $15 $5 C 2 $13 $26 $22 $7 D 3 $13 $39 $32 $9 E 4 $13 $52 $44 $13 F 5 $13 $65 $61 $17