A common definition of a recession is a period of time
A) of at least 6 months during which real GDP decreases.
B) with an increase in real economic output from the previous period.
C) with no change in real GDP.
D) with no change in the dollar (money) value of economic output.
A
You might also like to view...
Comment on the following statement: "Isoquants must be downward sloping."
What will be an ideal response?
A corporation's management
A) hires the board of directors. B) is liable for the corporation's debts. C) owns the corporation. D) operates and controls a corporation in its day-to-day activities.
At its current level of output, a firm’s average cost is $25 and its marginal cost is $20. If the firm increases output by one unit and marginal cost is $22, average cost will be
A. greater than $25. B. equal to $25. C. less than $25. D. equal to marginal cost.
A portfolio of a range of stocks, bonds, and other investments helps an investor reduce the risk of investment.
Answer the following statement true (T) or false (F)