Which of the following will be considered a lagging indicator of the business cycle?
a. Money supply
b. New building permits
c. Unemployment duration
d. Unemployment claims
e. New plant and equipment orders
c
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Economics is a part of the
A) social sciences. B) natural sciences. C) biological sciences. D) organizational sciences.
Economists are fairly confident that globalization leads to a(n) _____________ standard of living based on their comparisons of countries with __________________ characteristics
A) increased; similar B) increased; very few similar C) decreased; similar D) decreased; very few similar
A production system where various workers concentrate on different specialized tasks to contribute towards a whole product is referred to as:
A. A coincidence of wants B. Roundabout production C. Freedom of enterprise D. Division of labor
The Keynesian contention that the short-run aggregate supply curve is horizontal is based on the assumption that there are
A. upward sloping prices. B. sticky prices. C. real prices. D. flexible prices.