A period of time in which the overall business activity is rising at a rapid rate is known as
A) inflation.
B) hyperinflation.
C) an expansion.
D) a contraction.
C) an expansion
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Contractionary monetary policy will shift the AD curve rightward
Indicate whether the statement is true or false
To close a recessionary gap the policy should be to
A. raise G and raise taxes. B. lower G and lower taxes. C. raise G and lower taxes. D. lower G and raise taxes.
Comparative advantage is
A. the ability to produce a good at a lower opportunity cost than other producers. B. the ability to produce more output of all goods than anyone else can. C. the ability to produce more output from given inputs than another producer can. D. the ability to produce all goods at lower costs than anyone else can.
When you use your own savings to start a business, you make a profit
A. after you earn an amount equal to the savings you used to start the business. B. only after you cover the opportunity cost of using your savings to start your business. C. after the first dollar you earn, because you borrowed no funds to start the business. D. only after you earn double the amount of money you invested.