Refer to the accompanying figure.
In the figure, which interval represents a business cycle recession?
A. B to D
B. B to C
C. A to C
D. A to B
Answer: B
You might also like to view...
When the dollar appreciates relative to foreign currencies, it means that ________.
A. foreigners need less of their currency to buy one dollar B. we can buy less foreign currency with a given amount of dollars C. we need more dollars to buy each unit of another currency D. the value of foreign currencies decreased relative to our dollar
Which of the following is used to explain why a consumer's willingness to buy Microsoft Office increases as the number of other people who use Microsoft Office increases?
A) diminishing marginal utility B) market failure C) the income effect of a price change D) network externalities
Suppose the government taxes 10 percent of the first $30,000 in income, 20 percent of the next $20,000 in income, and 30 percent of all income over $50,000 . Calculate the marginal tax rate and the average tax rate for a person who earns $70,000
Referring to the Production Possibilities Frontiers in Figure 1.11 A and B, which depicts generalized growth when there is constant opportunity cost?
Figure 1.11
A. Fig. A B. Fig. B C. Either Fig. A or B is correct D. Neither Fig. A nor B are correct