A structural stagnation is a:
A. business cycle with smaller fluctuations around the trend.
B. business cycle with greater fluctuations around the trend.
C. slow expansion that involves slower growth than the previous long run trend.
D. business cycle in which unemployment rises during the downturn and rises during the expansion.
Answer: C
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Which of the following would typically be considered a cost of economic growth?
A) increased illiteracy B) decreased levels of health C) increased poverty D) urban congestion
If a country voluntarily agrees to have its companies import more goods from another country, the country has
A) a voluntary import expansion (VIE) agreement. B) a voluntary restraint agreement (VRA). C) a mandated tariff. D) a mandated agreement.
The ECB, like the U.S. Federal Reserve, is ______, and unlike the U.S. Federal Reserve, is not ______.
A) independent; a lender of last resort B) subject to scrutiny by the legislature; able to lend to large corporations C) dependent on congressional approval for its policies; committed to price stability D) able to lend to member governments; able to lend directly to banks
The most common form of nonprice competition is
A. Advertising. B. Predatory pricing. C. Patents. D. Collusion.