Referring to the graph above, an economic variable that had peaked in December 1911, November 1914, and February 1919 is likely a ________ variable
A) leading countercyclical
B) leading procyclical
C) lagging countercyclical
D) lagging procyclical
E) none of the above
A
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Which statement best describes the two issues economists face when comparing the GDP of different nations?
a. The two issues economists face when comparing the GDP of different nations are natural resources and population. b. The two issues economists face when comparing the GDP of different nations are natural resources and tax codes. c. The two issues economists face when comparing the GDP of different nations are currency and natural resources. d. The two issues economists face when comparing the GDP of different nations are currency and population.
In the equation of exchange, the average number of times a dollar is used to purchase a final good or service is the __________ of money
A) turnover B) elasticity C) velocity D) transfer
The demand for good X has been estimated to be ln Qxd = 100 ? 2.5 ln PX + 4 ln PY + ln M. The cross-price elasticity of demand between goods X and Y is:
A. 4.0. B. ?2.5 percent. C. 4.0 percent. D. ?2.5.
Governments may use microeconomic models to study the effects of a new tax on
A) the prices consumers pay. B) the money supply. C) the prices charged by producers. D) A and C