A period of significant decline in economic activity, marked by falling GDP, rising unemployment, and an increased number of bankruptcies, is called:
A. a severe depression.
B. a recession.
C. an expansion.
D. a boom.
B. a recession.
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A political structure's enfranchisement refers to:
A. who has the right to vote. B. which territories are protected under particular laws. C. which territories are restricted by particular laws. D. the government's ability to expand its power.
In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:
A. decreasing political instability. B. decreasing population growth. C. increasing corruption. D. reducing investment.
How is economic growth graphically depicted?
A. Aggregate demand shifts to the right. B. The long-run aggregate supply curve shifts right. C. The aggregate demand curve shifts to the left. D. Short-run aggregate supply shifts left.
Interest paid by businesses is
A. included in both GDP and national income. B. not counted in GDP because it is not assumed to flow from the production of goods and services. C. counted in national income, but not in GDP. D. not counted in GDP but is counted in GNP because it is paid by U.S. businesses.