Which of the following defines a recession?
a. Real GDP is increasing.
b. Real GDP is decreasing.
c. Real GDP is below its full employment level.
d. Unemployment is unusually low.
e. Employment growth is positive.
B
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In the late 1990s, debt-financed government spending decreased in Mexico. Following this decrease, consumption spending increased. Ricardian equivalence would explain this increase in consumption as the result of:
a. people's expectation of higher future taxes required to pay off government debt. b. people's expectation of lower future taxes that induce them to save less. c. automatic stabilization of the economy. d. the crowding out effect. e. an increase in current household disposable income.
Classical economics refers to an era in the history of economic thought that stretched from about
A) 1750 to the early 1900s. B) 1935 to the 1970s. C) 1800 to the mid 1900s. D) 1600 to the mid 1800s.
The process through which an economy's production possibilities curve shifts outward is:
A. full-employment management. B. investment. C. resource renewal. D. out-resourcing.
Hospitals had limited incentives to reduce readmissions prior to the ACA.
a. true b. false