A period of expansion in the business cycle ends when
A) the business cycle reaches its peak. B) the business cycle reaches its trough.
C) real GDP is less than potential GDP. D) real GDP is equal to potential GDP.
A
You might also like to view...
If firms have to change their production techniques in order to change the quantities they supply, their response to a price change will be less in a period of a year as compared to what they can do in a month
a. True b. False Indicate whether the statement is true or false
Most workers view leisure and income as:
A. goods and bads, respectively. B. bads and goods, respectively. C. bads. D. goods.
An appreciation is:
A. a decrease in the value of currency. B. a decrease in the trade deficit. C. an increase in the trade surplus. D. an increase in the value of currency.
How do high rates of inflation affect the acceptability of a nation’s currency?
What will be an ideal response?