What are variables that reflect peaks and troughs in economic activity as they occur?
a. Coincident economic indicators
b. Lagging economic indicators
c. Leading economic indicators
d. Productivity indicators
a
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The hypothesis that people believe that the BEST indicator of the future is the recent past is
Which of the following government actions is appropriate in a market with an external benefit?
A) taxes B) vouchers C) marketable permits D) setting a tax equal to the transactions costs E) price ceiling
Refer to Figure 8.2. How much profit will the firm earn if price stays at $80?
A) $0 B) $306 C) $312 D) $1000 E) $1024
"The government should levy higher taxes on the rich and use the additional revenues to provide better housing for the poor." This statement illustrates: a. the fallacy of composition
b. the basic principle of economics. c. a normative economic statement. d. a positive economic statement.