After World War II the average U.S. recession has lasted:
a. a few months
b. about half a year.
c. a little less than a year.
d. about three weeks.
e. about two years.
c
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Compared to a monopolistic competitor, a monopolist faces
A) a more elastic demand curve. B) a more inelastic demand curve. C) a demand curve that has a price elasticity coefficient of zero. D) a more elastic demand curve at higher prices and a more inelastic demand curve at lower prices.
State and explain three [or some other number chosen by the instructor] reasons why the scope for further expansion of developing country commodity exports is likely to be limited
What will be an ideal response?
The antebellum transportation revolution
a. was driven by a few firms that gained monopoly control of the major transportation routes. b. increased the prices of many consumer goods. c. discouraged urban growth. d. caused political and economic tension between the East and the West. e. None of the above.
The first three elements of a financial crisis are correctly represented as taking place in the following order:
a. large decline in some asset prices ? insolvencies at financial institutions ? decline in confidence in financial institutions b. insolvencies at financial institutions ? decline in confidence in financial institutions ? large decline in some asset prices c. insolvencies at financial institutions ? economic downturn ? credit crunch d. insolvencies at financial institutions ? credit crunch ? economic downturn