Which of the following is not a characteristic of an economy in recession?
A. Reduction in consumer spending
B. Reduction in business spending
C. Reduction in unemployment
D. Reduction in inflation
Answer: C. Reduction in unemployment
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A) lies between zero and one. B) is a measure of linear association. C) is close to one if X causes Y. D) takes on a high value if you have a strong nonlinear relationship.
When the price level rises, the long-run aggregate supply curve...
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