In a business cycle, a peak occurs before the beginning of a(n) ________ and a trough occurs before the beginning of a(n) ________.
A. recession; expansion
B. expansion; recession
C. trough; peak
D. depression; expansion
Answer: A
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What will be an ideal response?
A proprietorship is a firm with
A) two or more owners who both have unlimited liability. B) a single owner who has limited liability. C) a single owner who has unlimited liability. D) many owner all of whom have limited liability.
Both the classical and the HO model predict that the pattern of trade is determined largely by international differences in factor endowments
Indicate whether the statement is true or false
Countries that maintain a constant gold value for their currencies are said to be on a gold standard
a. True b. False Indicate whether the statement is true or false