Another name for the contractionary phase of a business cycle is recession
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Which of the following is not an argument favoring tariffs? a. They help infant industries grow
b. They increase consumer surplus for domestic consumers. c. They reduce domestic unemployment. d. They are necessary for national security reasons.
Retained earnings are the same thing as "plowback."
a. True b. False Indicate whether the statement is true or false
When GDP is measured in "current prices" it is known as the:
A. real GDP. B. nominal GDP. C. real GNP. D. nominal GNP.
The demand for steak is ________ than is the demand for food because ________.
A. more price elastic; the scope of the market for steak is more broadly defined B. more price elastic; the scope of the market for steak is less broadly defined C. less price elastic; the scope of the market for steak is more broadly defined D. less price elastic; the scope of the market for steak is less broadly defined