In which phase of the business cycle will the economy most likely experience rising real output and falling unemployment rates?
A. Expansion.
B. Recession.
C. Peak.
D. Trough.
A. Expansion.
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Unemployment in 1939, after a decade of recession and depression, still exceeded 10 percent
Indicate whether the statement is true or false
In a competitive market, each seller has limited control over the price of his product because
a. other sellers are offering similar products. b. buyers exert more control over the price than do sellers. c. these markets are highly regulated by the government. d. sellers usually agree to set a common price that will allow each seller to earn a comfortable profit.
How many members are there of the U.S. Senate Committee on Banking, Housing and Urban Affairs?
A. 15 B. 20 C. 21 D. 28
If MPC is .5 and government spending declines by $10 billion, then GDP will fall by _______.
Fill in the blank(s) with the appropriate word(s).