According to the graph above, the expansion that began in December 1914 had a duration of ________
A) 51 months
B) 4 years
C) 3 years
D) 44 months
E) 20 months
D
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According to the theory based on rational expectations and flexible wages and prices,
A) only the combination of discretionary fiscal policy and conservative monetary policy can affect real GDP in the long run. B) neither fiscal nor monetary policy influence real GDP in the long run. C) fiscal policy has less effect on real GDP than monetary policy in the long run. D) monetary policy has less effect on real GDP than fiscal policy in the long run.
What is the market fundamentals price and how might it differ from the equilibrium price?
What will be an ideal response?
Some electrical utilities are monopolies because of
A) government restrictions that prevent new firms from entering the market. B) ownership of resources without close substitutes. C) diseconomies of scale. D) their inability to earn profits.
Martin, a U.S. citizen, travels to Mexico and buys a newly manufactured motorcycle made there. His purchase is included in
a. both Mexican GDP and U.S. GDP. b. Mexican GDP, but it is not included in U.S. GDP. c. U.S. GDP, but it is not included in Mexican GDP. d. neither Mexican GDP nor U.S. GDP.