When there is an upward rise in the volume of economic activity, the economy is said to be in a recession
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
When Bank of America finances your purchase of a new car, you are
A) borrowing in the stock market. B) lending in the bond market. C) lending in the capital market. D) borrowing in the loan market. E) borrowing in the bond market.
Which of the following generates allocative efficiency in a market economy?
A) United Nations rules for competition B) equity C) voluntary exchange between buyers and sellers D) national government intervention
Ricardian equivalence argues that when the government cuts taxes and raises its deficit,
A) consumers anticipate that they will face lower taxes later to pay for the resulting government debt. B) consumers anticipate that they will higher services from the government. C) consumers anticipate that they will face higher taxes later to pay for the resulting government debt. D) consumers anticipate it will affect their future taxes, in general in the direction of lowering future taxes. E) consumers anticipate that the low tax rates will continue.
Which of the following is not a major trading partner of the U.S.?
a. Canada b. Mexico c. Russia d. China