Which of the following is associated with peaks in the business cycle?
a. Relatively high levels of unemployment.
b. Recessions
c. Relatively low levels of unemployment.
d. Both answers a. and b. above are correct.
c
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If two variables both increase at the same time or decrease at the same time, they are
A) unrelated to each other. B) positively related. C) negatively related. D) conversely related.
Intermediate goods are not included in GDP because:
A. certain goods that are used in the production of a final good would be counted twice. B. the value of goods bought by producers to make something else would be counted twice. C. the value of goods used by firms to make the goods they sell is included in the firm's product; accounting for the value twice would overestimate GDP. D. All of these statements are true
A horizontal demand curve is
A. has elasticity of zero. B. unit elastic. C. perfectly elastic. D. perfectly inelastic.
Supply-side theory suggests that
A. increased labor productivity may not increase real output. B. increased government spending does not increase aggregate demand. C. higher tax rates may not increase overall tax revenues. D. aggregate supply does not depend on labor productivity.