In the above figure, a recession begins at point ________ and an expansion begins at point ________
A) a; b
B) b; c
C) b; a
D) d; c
A
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The more generous the amount of unemployment benefits, the
A) lower the opportunity cost of job search. B) shorter the time spent searching for a suitable job and the higher the opportunity cost of being unemployed. C) shorter the time spent searching until accepting a suitable job. D) higher the opportunity cost of job search. E) lower the natural unemployment rate.
An economic model is a simplified version of reality used to analyze real-world economic situations
Indicate whether the statement is true or false
Research on the productivity of southern cotton plantations shows that:
a. cotton production was greater on large slave plantations than on small free-family farms. b. the majority of the South's cotton crop was grown on farm units of less than 100 acres. c. output per slave declined during the antebellum period. d. plantation-style agriculture was inefficient. e. All of the above.
Representative money is
a. accepted on faith. b. found in M1 and M2 money measures. c. today in the form of check able deposits. d. redeemable for a commodity.