The four phases of the business cycle are, in order: peak, downturn, trough, upturn.
Answer the following statement true (T) or false (F)
True
See the figure "Business-Cycle Phases" in the textbook.
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With real-world examples, illustrate the various factors that can cause a shift in the demand curve of a commodity
What will be an ideal response?
Which of the following statements is true?
A) Lower wages are normally offered for jobs with better amenities. B) Jobs that are relatively risky pay a lower wage than other safer jobs. C) Educational qualifications and wage rates are negatively correlated. D) Incentives are normally higher for desirable occupations in comparison to undesirable occupations.
In a(n) __________ insurance policy, there is no savings component
A) whole B) term C) universal D) variable
For an addictive drug such as heroin, if the price of heroin increases, then
A. the quantity demanded never changes. B. the quantity demanded will decrease by a relatively small amount. C. the quantity demanded will actually increase. D. the quantity demanded will decrease by a relatively large amount.