The low point of economic activity during a business cycle is called the
A) trough.
B) recession.
C) peak.
D) failure.
A
Economics
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Suppose planned expenditures exceed output. Explain how equilibrium is restored in this economy
What will be an ideal response?
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Why does the production possibility frontier have a negative slope?
What will be an ideal response?
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The demand curve for a Giffen good is
A) non-existent. B) upward sloping. C) non-linear but downward sloping. D) vertical.
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Which of the following would cause the IS curve to shift to the left?
A) an increase in government expenditures B) a decrease in the money supply C) an increase in domestic investment D) a decrease in taxes
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