Refer to the above figure. Point B is known as

A) a peak.
B) a recession.
C) an expansion.
D) a contraction.


B

Economics

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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.

Economics

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.

Economics

A demand curve that is perfectly inelastic is

A. horizontal. B. vertical. C. at a 45 degree angle. D. parallel to the X-axis.

Economics

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

Economics