Turning points in business cycles occur when
A. a new business cycle is initiated at the trough.
B. the business cycle begins to follow a new pattern that differs from previous business cycles.
C. the economy hits the peak or trough in the business cycle.
D. a new business cycle is initiated at the peak.
Answer: C
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A country has a comparative advantage in producing a good when it has the lowest opportunity cost of producing that good
a. True b. False Indicate whether the statement is true or false
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According to the United Nations, the largest expected growth in population for the coming decades will occur on which continent?
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