Identify the correct statement
a. During a recession, investment decreases while consumption increases.
b. During a recession, investment increases while consumption decreases.
c. During a recession, investment is constant while consumption increases.
d. Annual variations in investment are larger than annual variations in consumption.
e. Annual variations in investment are smaller than annual variations in consumption.
d
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Define the term "export."
What will be an ideal response?
Refer to Scenario 10.3. What level of output maximizes revenue?
A) 0 B) 45 C) 85 D) 125 E) 245
All of the following help define market structure, except one. Which is the exception?
a. number of sellers b. barriers to entry c. barriers to exit d. standardization of product e. how firms are organized (i.e., as proprietorships, partnerships, or corporations)
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.