A severe and prolonged recessionary phase of a business cycle is sometimes described as
a. an inverted peak
b. a trough
c. a recession
d. a depression
e. nominal GDP
D
You might also like to view...
Consider the Keynesian consumption function. If disposable income is greater than the break-even level of disposable income, then households will be:
a. investing. b. borrowing. c. dissaving. d. saving.
Which of the following statements would Keynes have been most likely to agree with?
A) Saving is more responsive to changes in interest rates than to changes in income. B) Say's law holds in both a barter and money economy. C) The internal structure of the economy is not always competitive enough to allow prices to fall. D) Investment is exclusively dependent upon the interest rate. E) none of the above
Assume a country agrees to a free-trade act with another country. In the process, some individuals are displaced from their jobs, thus the free-trade act results in a negative externality
A) False B) True C) Only if those who were displaced are not compensated with another job or income transfer. D) Only if those who were displaced were compensated with another job or income transfer.
According to the U.S. Census Bureau, hospitals in the United Kingdom are mostly
A. public. B. public trusts. C. for-profit. D. private.