A phase in the business cycle in which real GDP declines, inflation moderates, and unemployment emerges is known as a
a. recession
b. depression
c. downturn
d. peak
e. trough
C
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List factors that increase the price elasticity of supply
What will be an ideal response?
The income and substitution effects move in ________ for lenders and in ________ for borrowers
A) the same direction; the same direction B) the same direction; opposite directions C) opposite directions; the same direction D) opposite directions; opposite directions
In the long run in perfectly competitive markets, individual firms will operate at very different output levels
a. True. b. False.
Which of the following topics is not a part of a typical scenario plan?
a. Cash flows. b. Immigration and emigration. c. Informatics. d. All the above are a part of a typical scenario plan. e. Automation, miniaturization, robotics, and research.