What was very unusual about the 2001 recession, was that consumer spending ________________________.
Fill in the blank(s) with the appropriate word(s).
continued to rise
You might also like to view...
Which of the following represents the participation rate?
A) the ratio of the number employed to the size of the labor force B) the ratio of the number employed to the civilian noninstitutional population C) the ratio of the labor force to the civilian noninstitutional population D) the ratio of the labor force to the total number of employed and unemployed workers
In perfectly competitive markets, an implication of entry and exit in response to economic profit and loss is that:
A. firms will earn zero economic profit in the long run. B. market demand is completely elastic. C. firms must earn positive economic profit in the long run. D. all firms will exit the market in the long run.
The concavity (bowed-out shape) of the production possibilities curve is the result of: a. the law of demand
b. the law of supply. c. the law of increasing opportunity cost. d. complementarily in consumption.
Stabilization policy may be necessary to modify or counteract volatile changes in aggregate demand
a. True b. False Indicate whether the statement is true or false