In the United States since 1929, the duration of recessions on average has been:

A. shorter than the duration of expansions.
B. longer than the duration of expansions.
C. steadily increasing.
D. steadily decreasing.


Answer: A

Economics

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a. $12 b. $13 c. $14 d. $15

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The characteristics of a market that influence the behavior of market participants is (are) known as

a. perfect competition b. market power c. barriers to entry d. market structure e. monopolistic competition

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One of the effects of a price floor (set above equilibrium price) is

A) a surplus. B) higher-quality goods are produced. C) more satisfied customers. D) all of the above E) none of the above

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Using a production possibilities curve, a technological advance that increases the amount of output for both goods while using the same amount of inputs would be illustrated by which of the following?

What will be an ideal response?

Economics