In reference to short-term economic fluctuations, the "peak" refers to:
A. a particularly strong and protracted expansion.
B. the high point of economic activity prior to a recovery.
C. a period in which the economy is growing at a rate significantly above normal.
D. the high point of economic activity prior to a downturn.
Answer: D
You might also like to view...
Inputs, or factors of production, include
A. labor. B. machinery. C. natural resources. D. All of the responses are correct.
The difference between accounting profit and economic profit relates to
a. the manner in which revenues are defined b. how total revenue is calculated c. the market structure for the firm's industry d. the price of the good in the market e. the manner in which costs are defined
The square root of the quantity 
?is called the _____ for 
.
A. heteroskedasticity-robust t statistic? B. ?heteroskedasticity-robust standard error C. ?heteroskedasticity-robust F statistic D. ?heteroskedasticity-robust Wald statistic
Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher