Recall the Application about the factors involved in causing recessions, and the causes of recessions in the United States from 1893 to 1990 to answer the following question(s).Recall the Application. Recessions can occur either when there is a(n) ________ in aggregate demand or a(n) ________ in aggregate supply.

A. increase; increase
B. increase; decrease
C. decrease; decrease
D. decrease; increase


Answer: C

Economics

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When costs that vary with the level of output are divided by the output, you have calculated:

A. total changing cost. B. total fixed cost. C. average fixed cost. D. average variable cost.

Economics

If U.S. workers are paid $16 an hour and Indian workers are paid the equivalent of $4 an hour but U.S. workers can produce four times as many goods as Indian workers in the same amount of time:

A. production will migrate to the United States. B. there is no reason to move production from the United States to India. C. production will migrate to India. D. workers in the United State are paid too much.

Economics

For perfectly competitive firms,

A. total revenue equals price. B. marginal revenue equals price. C. marginal revenue equals total revenue. D. all of the above

Economics

Refer to the data provided in Table 9.3 below to answer the following question(s).  Table 9.3qTFCTVCTCMCAVCATC0$100  $0$100  ----  --  1100401404040  140  21006016020  30  80  31009019030  30    63.334100124  224  343156  5100180  280 56  36  56  6100 264   364  84  44    60.677100  372    472  108  53.14  67.43Refer to Table 9.3. The lowest output this firm would produce before shutting down is ________ units.

A. 1 B. 2 C. 3 D. 4

Economics