What is the name of the organization that defines business cycle peaks and troughs in the United States?
A) the Bureau of Labor Statistics
B) the Federal Reserve
C) the National Bureau of Economic Research
D) the National Peak and Trough Committee
Answer: C
You might also like to view...
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
A free lunch (the absence of a tradeoff) when the production of a good is increased is possible for the entire economy only if
A) resources are used inefficiently. B) there is a movement along the PPF. C) prices are decreased. D) prices are increased. E) less of some product is produced.
If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the unemployment rate is
A) 6.6 percent. B) 10 percent. C) 9.1 percent. D) 7.1 percent.
Why does an exchange rate-output combination lying above both DD and AA jump first to AA in equilibrium?
A) Asset prices can adjust immediately. B) Production plans can adjust immediately. C) to preserve full employment D) Prices are nominal and demand is real. E) Aggregate demand adjusts faster than output.