Which statement is true?
A. The entire expansion from the trough to the peak is the recovery phase.
B. The entire contraction from the peak to the trough is the recession phase.
C. Recessions never last more than one year.
D. Prosperity is the first phase of expansion.
B. The entire contraction from the peak to the trough is the recession phase.
You might also like to view...
Use the following information to answer the next question.Maya purchases only three products; orange juice, prepared meals, and on-demand episodes of her favorite shows. Each week she purchases 2 bottles of orange juice, 14 prepared meals, and 8 on-demand episodes. The prices of bottles of orange juice, prepared meals, and on-demand episodes for four different years are shown in the table below.YearPrice of Orange JuicePrice of Prepared MealsPrice of On-Demand Episodes1$2$6$102$6$5$123$4$7$134$4$8$11Based on this information, which of the following statements is true?
A. Maya spent $10 less in Year 1 than in Year 2. B. Maya's buying power increased between Year 1 and Year 4. C. There was inflation from Year 3 to Year 4. D. Maya's purchases cost $30 more in Year 3 than in Year 2.
Since 1950, there has been a substantial increase in wheat production. The increase in production has led to a decrease in the price of wheat because of which of the following factors?
A) The absolute value of the price elasticity of demand for wheat is less than 1 and the income elasticity of demand for wheat is greater than 1. B) The absolute value of the price elasticity of demand for wheat is greater than 1 and wheat is a close substitute for other food products. C) The income elasticity of demand for wheat is high and wheat is an inferior good. D) The absolute value of the price elasticity of demand for wheat is less than 1 and the income elasticity of demand for wheat is low.
Adding together the growth rate of labor input and the growth rate of labor productivity yields the growth rate of
A. nominal GDP. B. actual GDP. C. potential GDP. D. final GDP.
About what percent of the world's water supplies are used for agricultural purposes?
a. 90 b. 70 c. 45 d. 20 e. 10