The term "business fluctuations" refers to
A) changes in overall business activity, as evidenced by changes in national income, employment, and the price level.
B) changes in the general price level from inflation to deflation, or vice versa.
C) changes in the full employment level of economic activity.
D) changes in the value of the dollar.
A
You might also like to view...
What is meant by comparative statics? Is it different from the concept of marginal analysis? Explain with the help of suitable examples
What will be an ideal response?
Many countries in sub-Saharan Africa have very low labor productivities in many sectors, for example in manufacturing and agriculture
They often despair of even trying to attempt to build their industries unless it is done in an autarkic context, behind protectionist walls because they do not believe they can compete with more productive industries abroad. Discuss this issue in the context of the Ricardian model of comparative advantage.
An increase in the interest rate will increase the demand for loanable funds
a. True b. False Indicate whether the statement is true or false
In Figure 5-3, the price elasticity of demand between points T and U is the same as between points V and W
a.
True
b.
False