The lengths of the recession and expansion phases and which sectors of the economy are most affected will rarely be the same in any two business cycles
Indicate whether the statement is true or false
TRUE
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Refer to Figure 21-6. The market is in equilibrium. If the government budget deficit rises, which of the following would you expect to see?
A) The quantity of loanable funds demanded by firms will fall below $120 million. B) The interest rate will fall below 4 percent. C) The quantity of loanable funds demanded by firms will rise above $120 million. D) The budget deficit will have no impact on the quantity of loanable funds demanded by firms.
Even though the difference in labor-force participation rates of U.S. males and females has narrowed, the labor-force participation rate of males remains higher than that of females
a. True b. False Indicate whether the statement is true or false
Which of the following is not an example of a liquid asset?
(A) A checking account (B) Cash (C) A certificate of deposit (D) Travelers' checks