Briefly describe the three stages of the business cycle that all economies go through
What will be an ideal response?
All economies go through the cycles of prosperity (with high levels of demand, income, and employment), recession (with falling demand, income, and employment), and recovery (with gradual improvement in production, lowering unemployment, and increasing income).
You might also like to view...
When do firms recognize revenue?
What is a limitation to the employee survey approach that many organizations used to assess diversity and inclusion?
a. Most of the questions only have face value validity b. There are not enough questions use to get a true baseline c. Most people don’t understand the construct of ‘diversity’ in order to answer the question correctly d. They typically measure the observable differences but not the non-observable ones
The objective of an assignment problem solution most often is to minimize the total costs or time of performing the assigned tasks
Indicate whether the statement is true or false
Nick wants to make money, so he starts his own business as a sole proprietor. He likes this form of business because
A. he will get to keep all of the profits the business makes. B. profit is guaranteed since he will be the only owner. C. it will provide a steady income for him. D. he has to split the profits with only one other person. E. he has to pay small dividends to the other owners.