Which of the following statements is most correct?
A. A recession officially begins when unemployment exceeds 5.0 percent.
B. There is no hard and fast definition of a recession.
C. The official date of a recession is determined by the Federal Reserve Board, but usually with at least a three-month delay.
D. A recession is officially defined as two consecutive quarters where the real growth rate is negative.
Answer: B
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The figure above illustrates a linear demand curve. If the price falls from $8 to $6
A) total revenue increases. B) total revenue decreases. C) total revenue remains unchanged. D) the quantity demanded increases by less than 20 percent.
Personnel economics is
A) the study of how workers are affected by tax law changes. B) the application of economic analysis to the hiring decision. C) the application of economic analyses to human resource issues. D) the study of the factors that determine wage rates.
An informed party can use ________ to give information to an uninformed or lesser-informed party
A) signaling B) screening C) an individual mandate D) market noise
According to the simple quantity theory of money, which of the following variables are considered either constant or relatively stable?
A) V and Y B) Y and Ms C) P and Ms D) P and Y