Refer to the above figure. Point B is known as
A) a peak.
B) a recession.
C) an expansion.
D) a contraction.
B
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If V is constant and Y is fixed, any change in M
A) leads to a smaller change in P. B) leads to a proportionate change in P. C) leads to a larger change in P. D) does not lead to change in P.
A basic precondition necessary to achieve economic growth is
A) a well-organized work force. B) well-functioning factories. C) a strong central government that directs the nation's research and development activities. D) a well-functioning legal system. E) well-being of society.
A demand curve that is perfectly inelastic is
A. horizontal. B. vertical. C. at a 45 degree angle. D. parallel to the X-axis.
Projects with a positive NPV create
a. economic profits since they earn a return higher than the company's cost of capital b. economic profits since they earn a return lower than the company's cost of capital c. accounting profits only since they earn a return higher than the company's cost of capital d. accounting profits only since they earn a return lower than the company's cost of capital