The recurrent ups and downs in the level of economic activity extending over several years are referred to as
A. business startups.
B. economic phases.
C. business cycles.
D. noncyclical fluctuations.
Answer: C
You might also like to view...
A country has a government sector deficit and a private sector surplus. If the government sector deficit increases, and the private sector surplus decreases, then ________
A) net exports decrease or remain constant B) net exports increase C) net exports increase, decrease, or remain constant D) net exports decrease
If the elasticities of demand for alcohol, tobacco and gasoline are low and the elasticities of supply are high, then the burden of these taxes (excise taxes) falls more heavily on buyers than on sellers
Indicate whether the statement is true or false
The label 'Asian Tigers' describes the following economies ________
A) China, South Korea, Singapore and Taiwan B) Hong Kong, Taiwan, South Korea and Singapore C) Singapore, Taiwan, Hong Kong, and China D) South Korea, Singapore, China and Hong Kong
The chief economic cost associated with unemployment is
a. the benefits paid to the unemployed by the government b. the foregone output that would have been produced if those individuals were employed c. the taxes that are passed along to individuals to pay for unemployment insurance d. higher crime rates e. the psychological costs associated with unemployment