Business cycles vary in:
A. none of the answers given is correct; business cycles are by definition recurring waves that rise and fall in a periodic pattern.
B. the length of recessions only.
C. both the length of recessions and the time between recessions.
D. the time between recessions only.
Answer: C
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Explain how the S-curve reflects the typical nature of complementarities?
What will be an ideal response?
A tradeoff between inflation and unemployment is shown directly by the __________ curve
A) Fisher B) Phillips C) Friedman D) aggregate demand
According to the graph shown, if this economy were an autarky, consumers would get area:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. A in consumer surplus.
B. ABC in consumer surplus.
C. ABCD in consumer surplus.
D. ABCDEFG in consumer surplus.
How does increased immigration affect the labor market? How would the equilibrium wage and the equilibrium quantity of labor be affected?