The period of growth in real GDP between the trough of the business cycle and the next peak is called the:
A. recessionary phase.
B. recovery phase.
C. contractionary phase.
D. cyclical phase.
Answer: B
You might also like to view...
Long-run macroeconomic equilibrium occurs when
A) aggregate demand equals short-run aggregate supply and they intersect at a point on the long-run aggregate supply curve. B) structural and frictional unemployment equals zero. C) aggregate demand equals short-run aggregate supply. D) output is above potential GDP.
If mortgages and houses are complements in consumption and interest rates decrease, we would expect to see
a. An increase in demand for houses b. An decrease in demand for houses c. An increase in the quantity of houses demanded d. An decrease in the quantity of houses demanded
Excise taxes are the largest single source of federal government revenue
a. True b. False Indicate whether the statement is true or false
Shows on broadcast TV, like ABC or NBC, are ________ and shows on cable TV, like MTV or HBO, are ________.
A. nonexcludable; excludable B. excludable; nonexcludable C. rival; nonrival D. nonrival; nonexcludable