During a business cycle recession, total production ________ and total employment ________
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
D
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A recession is a period of time in which the total output of the economy rises.
Answer the following statement true (T) or false (F)
Refer to the above figure. For which Lorenz curve does the richest 40 percent make 50 percent of the nation's money income?
A) A B) B C) C D) D
More of a tax is borne by firms:
A. the more elastic is demand and the less elastic is supply. B. the less elastic is demand and the less elastic is supply. C. the more elastic is demand and the more elastic is supply. D. the less elastic is demand and the more elastic is supply.
If a corporation earns a profit, dividends must be paid
Indicate whether the statement is true or false