During recessions investment
a. falls by a larger percentage than GDP.
b. falls by about the same percentage as GDP.
c. falls by a smaller percentage than GDP.
d. falls but the percentage change is sometimes much larger and sometimes much smaller.
a
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A network externality refers to a situation where:
A) the value of a product increases as more consumers start to use it. B) firms collude to sell products at a price higher than the equilibrium market price. C) a firm that has control over key resources auctions the resources off to other firms. D) the government interferes to prevent the concentration of market power in the hands of a few firms.
Union activity in late 19th and early 20th centuries in the United States
a. was largely apolitical at the national level. b. was the impetus for several national parties. c. relied heavily on help from the federal government. d. None of the above is correct.
The upward slope of the supply curve of a good shows:
a. the negative relationship between the price of the good and its quantity supplied. b. the positive relationship between the price of the good and its quantity supplied. c. the negative relationship between the price of the good and the price of its substitute. d. the positive relationship between the price of the good and the price of its substitute.
Define absolute advantage