The Great Recession ended in June 2009 but the peak in unemployment occurred in _____________.
A. August 2009
B. October 2009
C. January 2010
D. March 2010
B. October 2009
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If the quantity of money supplied is greater than the quantity of money demanded, then the
A) price of financial assets falls. B) money supply decreases. C) nominal interest rate rises. D) nominal interest rate falls. E) price level falls.
The low point of economic activity during a business cycle is called the
A) trough. B) recession. C) peak. D) failure.
International businesses like a fixed exchange-rate system because
A) they like large swings in currency values when devaluation or revaluation occur. B) they profit by speculating on devaluation or revaluation. C) they can plan better if they know what the exchange rate will be. D) fixed exchange rates are economically efficient.
Along a production possibilities curve showing capital and consumption goods production, which of the following pairs are being held fixed?
a. Unemployment and capital goods production. b. Number of resources and consumption goods production. c. Composition of the economy's output and number of resources. d. Capital and consumption goods production. e. Technology and number of resources.