Which of the following is a true statement about the length of recessions and expansions in the United States economy?
A) After 1950, the length of expansions were much less than the length of recessions.
B) After 1950, the length of expansions were brief and almost nonexistent.
C) After 1950, the length of expansions were much longer than the length of recessions.
D) After 1950, the length of expansions equaled the length of recessions.
C
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Jacinda quit her job as a blackjack dealer where she made $42,000 per year to start her own florist business. Her business expenses are $14,000 per year on rent, $21,000 per year on supplies, and $9,000 per year on part time hel
A) $104,000 B) $86,000 C) $62,000 D) $44,000
We don't typically see wages __________ in response to an economic upswing because ____________.
A. rise; they are "sticky," and are slow to respond to shifts in the economy B. rise; they cannot rise above the equilibrium in any circumstance C. fall; they are "sticky," and are slow to respond to shifts in the economy D. fall; they cannot fall below where they were previously set due to inflation
If price is above the equilibrium, there will be excess supply of the product.
Answer the following statement true (T) or false (F)
If interest rates are lowered
A. people are more likely to save their money in banks. B. people are not affected by interest rates being lowered, only when interest rates are raised. C. entrepreneurs are more likely to expand a business by borrowing money. D. entrepreneurs are less likely to borrow money.