In reference to short-term economic fluctuations, the "peak" refers to:
A. a period in which the economy is growing at a rate significantly above normal.
B. the high point of economic activity prior to a downturn.
C. a particularly strong and protracted expansion.
D. the high point of economic activity prior to a recovery.
Answer: B
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Oligopolies can arise as a result of both natural barriers and government created barriers
a. True b. False Indicate whether the statement is true or false
When pricing is used to limit entry, it is often described as
A) effective. B) predatory. C) exclusive. D) aggressive.
Monopolistic competition is characterized by
A. one firm selling several products. B. many firms selling the same product. C. many firms selling slightly different products. D. one firm selling one product.
Which of the following options would be most likely to cause an increase in short-term real interest rates?
a. The Federal Reserve cuts the discount rate. b. The Federal Reserve lowers the reserve requirement. c. The Federal Reserve sells bonds in the open market. d. The federal budget is shifted toward a surplus.