A period of economic expansion ends with a business cycle trough
Indicate whether the statement is true or false
FALSE
You might also like to view...
Refer to Table 2-9. What is Haley's opportunity cost of making a necklace?
A) 2 necklaces B) 3 bracelets C) 3/4 of a bracelet D) 1 1/3 necklaces
Game theory is based on the idea that
a. government determines the rules of the game b. firms are strategically independent c. firms are price takers d. a player's strategy must take account of the strategies followed by other players e. a player's strategy must be independent of the strategies followed by other players
Which of the following is true of utility? a. The marginal utility obtained from the consumption of a unit of a good increase with each additional unit of the good. b. Utility is a measure of a person's level of satisfaction from consuming a particular good
c. The utility from the consumption of a good increase as the price of the good increases. d. Utility is an objective concept.
The production function shifts upward as the capital stock increases.
Answer the following statement true (T) or false (F)