The upward and downward movement of aggregate output produced in the economy is referred to as the
A) roller coaster.
B) see saw.
C) business cycle.
D) shock wave.
C
You might also like to view...
Label each entry in the list as dealing with a microeconomic topic or a macroeconomic topic. Explain your answer
What will be an ideal response?
If Happy Feet chooses to Ad and Best Nails then chooses to Ad, Happy Feet earns ________ million in net profit and Best Nails earns ________ million.
Happy Feet wants to prevent Best Nails from entering the nail salon market. The above game tree illustrates the different strategies and corresponding payoffs for the two firms. Both Happy Feet and Best Nails have the same strategies of advertising (Ad) or not advertising (No Ad). The payoffs represent net profit in millions.
A) $4; $1
B) $1; $4
C) $5; $1
D) $2; $3
Rational utility maximizing consumers tend to:
A. choose the same bundle of goods regardless of their income. B. change their consumption choices when either prices or income changes. C. buy the same bundle of goods regardless of the prices charged. D. change their consumption choices only when both prices and income changes simultaneously.
Aside from a statistical discrepancy, any deficit in the current account is matched by
A. a surplus in the merchandise trade balance. B. the excess of exports over imports. C. a deficit in the capital account. D. a surplus in the capital account.